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Stock impact report

UPDATE 2-CN Rail profit beats, pulls 2020 forecast on coronavirus hit [Reuters]

Canadian National Railway Company (CNI) 
Last canadian national railway company earnings: 4/27 04:01 pm Check Earnings Report
US:NYSE Investor Relations: cn.ca/en/investors
Company Research Source: Reuters
UPDATE 2-CN Rail profit beats, pulls 2020 forecast on coronavirus hit (Adds CEO comment, background) April 27 (Reuters) - Canadian National Railway Co beat analysts’ estimates for first-quarter profit on Monday driven by crude-by-rail shipments and withdrew its full-year 2020 forecast following the COVID-19 pandemic. Canadian railroad operators have been getting a boost from shipping oil for producers looking for alternatives to congested pipelines. Canadian National said in January it expected crude shipments to be a growth driver this year. “Looking broadly at energy-related carloads, crude by rail was a significant growth driver, up 45% year-over-year for the quarter,” Chief Executive Officer Jean-Jacques Ruest said on Monday. Rail freight revenue rose marginally to C$3.42 billion in the reported quarter on higher petroleum and chemical shipments. Total carloads, the amount of freight loaded into cars during a specified period, fell 5.9%. However, with global storage space filling Show less Read more
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