October 22, 2013 / 8:17 PM / in 5 years

CN Railway reports bigger profit, announces stock split

TORONTO, Oct 22 (Reuters) - Canadian National Railway Co , the focus of scrutiny after one of its trains derailed and caught fire last weekend, reported a bigger third-quarter profit on Tuesday and announced a two-for-one stock split and share buyback plan.

The country’s largest rail operator said net income rose to C$705 million ($685 million), or C$1.67 per share, from C$664 million, or C$1.52 per share, in the same period last year.

On an adjusted basis, profits rose to C$1.72 per share from C$1.52 per share.

Analysts were expecting a profit of C$1.63 a share, according to Thomson Reuters I/B/E/S.

Revenue was 8 percent higher at C$2.7 billion, reflecting higher freight volumes due to strong energy markets, market share gains, and a North American economic recovery, CN said.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below