Port strike will take two months for recovery, CN says, as wildfires dent earnings

However, the company’s goal of ramping up profitable growth through 2026 and beyond remains on track, she insisted, even as the railway taps the brakes on its hiring plan amid economic shudders.

The flames halted operations at lumber mills amid rolling evacuations. “Most of the business lost in Q2 will not be recoverable,” said chief marketing officer Doug MacDonald, referring to forest product shipments.Article contentOver the weekend, torrential rains and flooding in Nova Scotia severed a key rail link to Central Canada and the U.S.

Meanwhile, “a little more weakness on the economic front” means overall shipments will likely continue to drop throughout the year, Robinson said. Softer demand, especially for container cargo, will likely continue into 2024, she added.Article content

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