Canadian National Railway Q1 Profit Down

(RTTNews) - Canadian National Railway Co (CNR.TO) Monday reported first-quarter profit of C$974 million or C$1.37 per share, down from last year's profit of C$1.01 billion or C$1.42 per share.

Excluding items, Canadian National Railway reported adjusted earnings of C$1.23 per share, up from C$1.22 per share last year.

The company's revenue for the quarter dropped slightly to C$3.54 billion from C$3.55 billion last year.

Analysts polled by Thomson Reuters estimated earnings of $1.00 per share on revenues of $2.88 billion.

Looking forward to full year 2021, Canadian National now expects double-digit adjusted earnings growth, compared to C$5.31 reported last year. Analysts currently estimate earnings of $4.73 per share.

Previously, the company expected adjusted earnings growth in the high single-digit range.