Canadian National Railway (NYSE: CNI) reported Q1 EPS of Cdn$1.72, Cdn$0.01 better than the analyst estimate of Cdn$1.71. Revenue for the quarter came in at Cdn$4.25 billion versus the consensus estimate of Cdn$4.28 billion.

Reaffirming 2024 and long-term financial outlook: CN reaffirms its 2024 outlook and expects to deliver adjusted diluted EPS growth of approximately 10% and expects to invest approximately C$3.5 billion in its capital program, net of amounts reimbursed by customers. The Company also expects return on invested capital (ROIC) to be within the targeted range of 15%-17%.

CN reiterates its longer-term financial perspective and continues to target compounded annual diluted EPS growth in the range of 10%-15% over the 2024-2026 period driven by growing volumes more than the economy, pricing above rail inflation and incrementally improving efficiency, all of which assumes a supportive economy.

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