Canadian National Railway (CNI) Tops Q1 EPS by C$0.13

Canadian National Railway (NYSE: CNI) reported Q1 EPS of Cdn$1.22, Cdn$0.13 better than the analyst estimate of Cdn$1.09. Revenue for the quarter came in at Cdn$3.55 billion versus the consensus estimate of Cdn$3.48 billion.

2020 assumptions:

CN’s 2020 key assumptions provided in our 2019 year-end earnings news release of January 28, 2020 are withdrawn and can no longer be relied upon given the high degree of business uncertainty caused by the COVID-19 pandemic, its severity, magnitude and duration, including impacts of the pandemic and of businesses’ and governments’ responses to the pandemic on our business, financial position, results of operations and liquidity. In 2020, CN now plans to invest approximately C$2.9 billion in its capital program, of which C$1.6 billion is still targeted toward track and railway infrastructure maintenance. A reduction of C$0.2 billion in CN's capital program reflecting lower volumes was partly offset by approximately C$0.1 billion due to the negative impact of foreign exchange, resulting in a net C$0.1 billion reduction.

For earnings history and earnings-related data on Canadian National Railway (CNI) click here.

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