The COVID-19 pandemic hit Canadian railway CN’s (NYSE: CNI) second-quarter profits, with lower rail volumes resulting in a 19% decline in quarterly revenue.
CN’s second-quarter net income on an unadjusted basis totaled C$545 million (US$405 million), or 77 cents per diluted share, compared with $1.36 billion, or $1.88 per diluted share, in the second quarter of 2019. Operating income fell 53% to $785 million.
Second-quarter revenue fell 19% to $3.2 billion as the COVID-19 pandemic lowered...
https://www.freightwaves.com/news/coronavirus-pandemic-wracks-cns-second-quarter-profit