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Canadian National Railway Company Message Board

  • ganion ganion Oct 23, 2012 10:21 AM Flag

    Petroleum and chemicals

    Globe and Mail
    "Petroleum and chemicals led the way with a 15% increase in revenues, largely as a result of higher shipments of crude oil originating in Western Canada," said CN's president and chief executive officer Claude Mongeau.

    Despite concerns about the malaise of the U.S. economy, CN reported year-on-year increases in coal and other resources. Petroleum and chemicals was strongest, with revenue up 15% compared with the third quarter last year, and coal up 13%. Other strong sectors included grain and fertilizers, with a 10% rise in revenue, and automotive shipments, up 9%.

    CN management anticipates continued strength in current strong sectors: robust crude shipments, the good Canadian grain yield and promising signs in housing starts.

    Sentiment: Buy

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