CN Rail boosts profits as cargo volumes inch up despite trade war
MONTREAL – Canadian National Railway Co. says profits rose five per cent in its latest quarter as the country's biggest railroad operator worked through a trade war set off by U.S. President Donald Trump.
CN is reporting net income rose to $1.16 billion in the first quarter, from $1.10 billion the year before.
The Montreal-based company says revenues increased four per cent to $4.40 billion in the three months ended March 31 from $4.25 billion in the same period a year earlier.
It says diluted earnings per share jumped nearly eight per cent to $1.85 from $1.72.
The railway says cargo volumes — as measured in revenue ton miles, a key metric gauging how many tons of freight are hauled in a mile — increased one per cent year-over-year.
In a release Thursday, CN said its financial forecast for 2025 remains unchanged, but stressed the 'heightened recessionary risk related to tariffs and trade actions' taken by the U.S. and other countries.
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This report by The Canadian Press was first published May 1, 2025.
Companies in this story: (TSX:CNR)
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