CN Rail earnings beat Street

Canadian National Railway Co. delivered a third quarter result Monday that came in slightly ahead of expectations, and announced a new $1.4-billion share buyback program.

The country’s largest railway reported earnings of $664-million, or $1.52 a diluted share, for the quarter, up from $659-million, or $1.46 a share, a year ago.

Analysts had been expecting earnings of $1.51 a share, according to Bloomberg estimates.

“CN’s focus on operational and service excellence helped the company post a solid third-quarter performance, with revenue growth in all our business segments and solid improvement in most of our key operating metrics,” said Claude Mongeau, CN chief executive, in a statement.

Read Full Article from National Post

- Posted: 2012-10-22 17:44:10

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