CN's Growth Defies Sluggish Freight Market, Operating Ratio Snaps Back From 1Q Travails
We have increased our fair value estimate for Canadian National Railway by about 7% as we incorporate stronger volume projections for this year and next, and as our model adds the time value of money since our prior update. We maintain our wide moat rating. The shares trade around our fair value estimate.CN attained record quarterly revenue, EBIT, and earnings per share and cranked out a strong 57.5% operating ratio. Most of the 9% revenue increase was due to an acquisition (CAD 100 million fro...
Canadian National Railway, together with its wholly-owned subsidiaries, is engaged in the rail and related transportation business. Co.'s network of approximately 20,000 route miles of track spans Canada and mid-America, from the Atlantic and Pacific oceans to the Gulf of Mexico. Co.'s network and connections to all Class I railroads provide access to all three North American Free Trade Agreement nations. Co. handles and carries cargo, serving exporters, importers, retailers, farmers and manufacturers. Co. is engaged in the movement of a portfolio of goods, including petroleum and chemicals, grain and fertilizers, coal, metals and minerals, forest products, intermodal and automotive.
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