
CN trims outlook, boosts margins amid trade volatility

Canadian National Railway (CN), a key player in North American freight logistics, has reported second-quarter earnings that highlight its operational resilience despite a turbulent macroeconomic backdrop. Revenue slipped 1% year-over-year to C$4.27 billion, while revenue per ton miles (RTMs) — a key volume metric — also declined 1%. Yet CN’s operating income rose 5% to C$1.64 billion, and its operating ratio improved to 61.7%, reflecting tighter cost controls and improved efficiency. Diluted earnings per share climbed 7% to C$1.87 (up from $1.75 a year earlier), underscoring the company’s ability to protect margins even as trade headwinds persist. "Our team's ability to be nimble and our focus on tight cost control allowed us to adjust our operations and deliver strong results despite a challenging external environment. We are working closely with customers, including those impacted by trade issues, to provide them with the services they need to win in their markets. We remain focused on powering the North American economy and delivering for shareholders," CEO Tracy Robinson said.Credit: Canadian National Railway CompanyHowever, CN revised its full-year guidance downward, now expecting adjusted EPS growth in the mid- to high