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Canadian National Railway Riding Up On Higher Q3 Profit

Shares of Canadian National Railway Co. (CNR.TO,CNI) are up 3 percent on Wednesday's trading as the company posted better results in the third quarter and reaffirmed its full year 2021 outlook.

The company's third-quarter net income climbed to C$1.69 billion or C$2.37 per share from C$985 million or C$1.38 per share in the prior year. Adjusted earnings per share were C$1.52, an increase of 10 percent from the prior year.

Revenues were C$3.59 billion, an increase of C$182 million or five per cent from last year.

The company reaffirmed its 2021 financial outlook. CN still expects to deliver 10 percent adjusted earnings per share growth versus 2020 adjusted earnings per share of C$5.31.

The company noted that quarterly dividend of C$0.6150 per common share will be paid on December 30, to shareholders of record on December 9.

Separately, the company said that Jean-Jacques Ruest will retire as president and chief executive officer at the end of January 2022 or till a successor has been appointed.

Currently at $128.59, the stock has traded between $98.69 and $132.82 during the past 52 weeks.

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