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CN Railway Boosts Prices, Fuel Charges With Inflation Rising

  • Company beats analyst estimates in 2Q; revenue rises 21%
  • Railway saw 29% boost in coal shipments; intermodal declines
A Canadian Pacific Railway freight train near Lake Louise, Alberta.

A Canadian Pacific Railway freight train near Lake Louise, Alberta.

Photographer: George Rose/Getty Images 

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Canadian National Railway Co. reported earnings that easily beat analysts’ estimates, as strong volumes allowed the railroad to increase prices and fuel surcharges to offset rising costs. 

Revenue in the second quarter was C$4.34 billion ($3.4 billion), topping the expected C$4.08 billion and about 21% higher than last year. The company said it was helped by a combination of higher freight rates and fuel charges as well as strong volumes of coal and US grain. A weaker Canadian dollar also gave sales a boost.