CN Raises Financial Outlook - Quick Facts

(RTTNews) - Canadian National Railway Co (CNR.TO, CNI) announced it is raising financial outlook and now expects 2016 adjusted EPS to be up approximately one percent versus last year's adjusted EPS of C$4.44. This is compared with the company's prior financial outlook calling for 2016 adjusted EPS to be in line with prior year.

Third-quarter net income was C$972 million, or C$1.25 per share, compared to C$1.01 billion, or C$1.26 per share for the third quarter of 2015. On a constant currency basis, CN's net income for the third quarter of 2016 would have been lower by C$2 million, or unchanged per share.

Third-quarter revenues were C$3.01 billion, a decrease of six percent, when compared to the same period in 2015. The company said the revenue decline was mainly attributable to lower volumes of crude oil, coal, and frac sand, and lower applicable fuel surcharge rates. Carloadings for the quarter declined by four percent to 1,332 thousand.

Luc Jobin, CN CEO, said: "With solid execution from our industry-leading operating team and a network-wide focus on providing quality service, CN delivered outstanding results in the third quarter while facing a still sluggish North American and global economy."