Canadian National Railway Q1 Results Top Estimates

(RTTNews) - Canadian National Railway Co. (CNI, CNR.TO) reported net income for the first quarter of C$704 million, or C$0.86 per share, compared to C$623 million or C$0.75 per share for the year-ago quarter.

First quarter revenues rose 15% to C$3.10 billion from C$2.69 billion a year earlier. Revenue ton-miles grew by 7% and carloadings increased 9%.

Analysts polled by Thomson Reuters expected the company to earn C$0.85 per share on revenue of C$3.06 billion for the first quarter.

CN's operating ratio for the first quarter improved by 3.9 points to 65.7% from 69.6% last year.