News Formal

CN Rail lowers earnings forecast amid falling profits, weaker demand - BNN Bloomberg

  • 📰 BNNBloomberg
  • ⏱ Reading Time:
  • 18 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 50%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Canadian National Railway Co. lowered its earnings forecast for the year amid falling profits and revenue last quarter and a sluggish economic environment.

Canada's largest railway said Tuesday it now expects flat to slightly negative adjusted diluted earnings in 2023, instead of the mid-single-digit growth it predicted three months ago.

“The longer-term fundamentals remain strong. The growth opportunities are real," she told analysts on a conference call, noting that on-time performance, safety and velocity metrics all improved from 2022. A roughly two-week strike at B.C. ports earlier this month halted freight flows through West Coast terminals, adding to the demand woes.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 83. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Cybercrime costs Canadian companies millions even as awareness grows: report - National | Globalnews.caPart of the reason the financial fallout from cybercrime continues to grow is that cybercriminals are getting more sophisticated, one expert said.
Source: GlobalNational - 🏆 81. / 51 Read more »

Port strike will take two months for recovery, CN says, as wildfires dent earningsCanadian National Railway Co. said Tuesday it now expects flat to slightly negative adjusted diluted earnings in 2023.
Source: calgarysun - 🏆 63. / 52 Read more »