Lower volumes, revenue dampen CN’s third-quarter profit

A photograph of a CN train passing through a snow-filled forest.

Lower volumes in the third quarter as a result of the coronavirus pandemic put pressure on Canadian railway CN’s (NYSE: CNI) third-quarter profit.

Net income was C$985 million (US$751 million), or $1.38 in adjusted diluted earnings per share, in the third quarter of 2020 compared with $1.2 billion, or $1.66 in adjusted diluted earnings per share, in the third quarter of 2019. This was a year-over-year decline of nearly 18%. All figures are in Canadian dollars.

An 11% drop in total revenue pulled...

https://www.freightwaves.com/news/lower-volumes-revenue-dampen-cns-third-quarter-profit

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