BRIEF-Canadian National posts Q2 earnings C$1.10/shr

Mon Jul 25, 2016 4:16pm EDT
 
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July 25 (Reuters) - Canadian National Railway

* Qtrly carloadings declined 12 per cent and revenue ton-miles declined 11 per cent

* Qtrly operating ratio of 54.5 per cent was an improvement of 1.9-points over prior-year quarter

* Reiterate April 25, 2016, financial outlook of aiming to deliver 2016 EPS in line with last year's adjusted diluted EPS of C$4.44

* Canadian National says assumes U.S. housing starts in range of 1.2 million units and U.S. motor vehicle sales of approximately 17.5 million units for 2016

* Co says now expects total carloads for 2016 will decrease in mid-single-digit range

* For balance of 2016, expect some markets to remain strong, including lumber and panels, automotive, refined petroleum products

* For balance of 2016, shipments of commodities related to oil and gas development expected to decrease relative to last year

* 2016 net income of C$858 million, or C$1.10 per diluted share   Continued...