October 22, 2019 / 8:11 PM / 10 months ago

CN Rail cuts full-year adjusted profit outlook on lower demand

Oct 22 (Reuters) - Canadian National Railway Co cut its adjusted profit forecast for the year on Tuesday, citing deterioration in North American rail demand due to a weakening economy.

The largest railroad operator in Canada now expects adjusted earnings per share growth in the high single-digit percentage range this year, compared with an earlier estimate of low double-digit range.

The company’s net income rose to C$1.20 billion ($916.45 million), or C$1.66 per share, in the third quarter ended Sept. 30, from C$1.13 billion, or C$1.54 per share, a year earlier.

$1 = C$1.31 Reporting by Shanti S Nair in Bengaluru; Editing by Maju Samuel

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