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

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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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.
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