A CN locomotive sits idle at the CN Stuart Yard west of the West Harbour GO station in Hamilton, Ont., Thursday, Aug. 22, 2024. Canadian National Railway Co. revised its earnings guidance for 2024 lower due to several factors including the recent labour stoppage that saw both Canada's major railways grind operations to a halt. THE CANADIAN PRESS/Peter Power

CN reports $1.15B first-quarter profit, down from $1.16B a year earlier

by · CityNews

MONTREAL — Canadian National Railway Co. reported a first-quarter profit of $1.15 billion compared with $1.16 billion a year earlier.

The railway says the profit amounted to $1.87 per diluted share for the quarter ended March 31, up from $1.85 per diluted share in the same quarter last year when it had more shares outstanding.

On an adjusted basis, CN says it earned $1.80 per diluted share in its latest quarter, down from an adjusted profit of $1.85 per diluted share in the first quarter of 2025.

Revenue totalled $4.38 billion, down from $4.40 billion in the same quarter last year.

The railway says gross ton miles increased three per cent compared with a year earlier while revenue ton miles also gained three per cent.

CN’s operating ratio, its operating expenses as a percentage of revenues, was 64.6 per cent in its latest quarter compared with 63.4 per cent a year earlier.

This report by The Canadian Press was first published April 29, 2026.

Companies in this story: (TSX:CNR)

The Canadian Press