CN's First Quarter: Revenue Exceeds Expectations, Per-Share Earnings Fall Short

Montreal, CA (Associated Press) — Canadian National Railway Co. (CNI) on Tuesday (April 26) reported first-quarter net income of $724.7 million.

On a per-share basis, the Montreal-based company said it had profit of $1.03.

Earnings, adjusted for non-recurring costs, came to $1.04 per share.

The results did not meet Wall Street expectations.

The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.08 per share.

The railroad posted revenue of $2.93 billion in the period, topping Wall Street forecasts.

Six analysts surveyed by Zacks expected $2.9 billion.