Canadian National profit rises as energy markets boost freight

Mon Jul 22, 2013 4:15pm EDT
 
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TORONTO, July 22 (Reuters) - Canadian National Railway, Canada's largest railroad, posted a higher net profit for the second quarter on Monday, helped by freight rate increases and higher volumes due to strong energy markets.

Net income rose to C$717 million ($693.42 million), or C$1.69 per diluted shares, from C$631 million, or C$1.44 per share, during the same quarter last year.

On an adjusted basis, earnings per share rose to C$1.66 from C$1.50 per share a year earlier.