CN Rail lowers 2024 earnings forecast due to strike uncertainty

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 37 sec. here
  • 10 min. at publisher
  • 📊 Quality Score:
  • News: 46%
  • Publisher: 63%

CN Nouvelles

Tracy Robinson,Earnings Growth,Canada Industrial Relations Board

Canadian National Railway Co. lowered its forecast for earnings growth Tuesday as it faces the threat of a worker strike.

The Montreal-based railway, which earned $1.11 billion in the second quarter, said it is seeing international customers route shipments away from Canadian ports in the face of continued labour uncertainty at the company.

"Starting late May we saw a sharp reduction primarily in our international volumes on concerns of a work stoppage," Robinson said. "This is volume destined to the U.S. that has shifted to U.S. ports. So we have lighter volumes in the third quarter than expected." Robinson said CN expects to have more certainty on the labour front after the CIRB issues its decision. She said the company's position on a collective agreement with its engineers and conductors has not changed in recent months — it is still looking to create a structure around work scheduling that would improve crew availability in light of new federal rules around mandatory work and rest rules for critical railway employees.

Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 47. in FR
 

Merci pour votre commentaire. Votre commentaire sera publié après examen.

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

CN Rail lowers 2024 earnings forecast due to strike uncertaintyCanadian National Railway Co. says it earned $1.11 billion in the second quarter, though it lowered its forecast for earnings growth as it faces the threat of a worker strike.
La source: BNNBloomberg - 🏆 83. / 50 Lire la suite »

CN Rail lowers 2024 earnings forecast due to strike uncertaintyMONTREAL — Canadian National Railway Co. says it earned $1.11 billion in the second quarter, though it lowered its forecast for earnings growth as it faces the threat of a worker strike.
La source: SooToday - 🏆 8. / 85 Lire la suite »