Canadian National Railway (NYSE: CNI) reported Q3 EPS of Cdn$1.52, Cdn$0.10 better than the analyst estimate of Cdn$1.42. Revenue for the quarter came in at Cdn$3.59 billion versus the consensus estimate of Cdn$3.54 billion.

Reaffirming 2021 financial outlook: CN expects to deliver 10 per cent adjusted diluted EPS growth, versus 2020 adjusted diluted EPS of C$5.31(1). CN now assumes total revenue ton miles (RTMs) in 2021 will increase in the low single-digit range versus 2020 (compared to its September 17, 2021 assumption of an increase in the mid single-digit range). Furthermore, CN is still targeting free cash flow in the range of C$3.0 billion to C$3.3 billion in 2021 compared to C$3.2 billion in 2020.

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