Canadian National Railway Reports Strong Q3 2026 Growth Driven by Volume and Pricing
Canadian National Railway (CNI) delivered robust third-quarter 2026 results, highlighted by an 18% year-over-year increase in adjusted diluted EPS to $2.16. Revenue rose 15% to $4.77 billion, fueled by higher freight rates and fuel surcharges. The company demonstrated significant operational efficiency, achieving a 40 basis point improvement in its adjusted operating ratio to 61%, supported by seven consecutive quarters of employee productivity gains. Growth was broad-based across several sectors, including a 20% surge in automotive revenue ton miles (RTMs) and a 12% increase in grain and fertilizer shipments. However, the company faced headwinds from wildfire disruptions affecting intermodal volumes and production challenges impacting coal exports. Additionally, CN reported a $118 million noncash asset impairment charge related to discontinued technology projects.
Topics: earnings report EPS free cash flow revenue growth share repurchases