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

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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.

 

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