Canadian National Railway Maintains Earnings-Growth Forecast as Shocks Subside
- Railroad sees adjusted EPS growing by 10% to 15% through 2026
- Fourth-quarter results slightly beat analysts’ estimates
CN Rail raised its quarterly dividend by 7% — its 28th straight year of increasing its payout to shareholders.
Photographer: Christinne Muschi/BloombergThis article is for subscribers only.
Canadian National Railway Co. is sticking with its outlook for double-digit profit growth over the next few years, shrugging off a 2023 marred by labor strife, low grain shipments and a sluggish economy.
The rail operator expects earnings per share to grow around 10% in 2024 on an adjusted basis, hovering at the lower end of its 10% to 15% longer-term target. The company expects to boost freight volumes and raise prices more than the industry average, “all of which assumes a supportive economy,” it said in a statement Tuesday.