Canadian National Railway 3Q Profit, Revenue Rise

By Adriano Marchese

Canadian National Railway reported a rise in third-quarter profit and revenue thanks to higher freight volumes transported.

The Canadian railroad on Friday posted higher net income of 1.14 billion Canadian dollars ($815 million), or C$1.83 a share, up from C$1.09 billion, or C$1.72 a share, in the comparable quarter a year earlier.

Adjusted earnings were C$1.83 a share, coming in ahead of the C$1.77 a share that analysts expected for the period, according to a FactSet poll.

Total revenue rose in the quarter, reaching C$4.17 billion from C$4.11 billion a year earlier, just ahead of Wall Street expectations of a rise to C$4.16 billion. Freight revenue rose to C$3.99 billion from C$3.92 billion.

CN Rail operates a nearly 20,000-mile rail network and related transportation services, connecting Canada's eastern and western coasts with the U.S. Midwest and the U.S. Gulf Coast.

On the operations side, gross ton miles increased 1% to 111.9 billion and revenue ton miles also rose 1% to 57.19 billion. GTM represents the total weight of a train multiplied by the distance traveled in miles, while RTM, a financial metric, is the weight of revenue-generating freight multiplied by the distance.

Operating ratio, which measures efficiency, was 61.4%, down by 170 basis points from a year earlier. In this metric, a lower ratio indicates better profitability.

For the year, Montreal-based CN Rail said it would keep its guidance unchanged, calling for mid- to high-single-digit adjusted earnings-per-share growth. It also said it continues to invest net of about C$3.35 billion in its capital program.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

October 31, 2025 08:20 ET (12:20 GMT)