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CN beats 4Q profit forecasts

MONTREAL (AP) _ Canadian National Railway Co. (CNI) on Tuesday reported fourth-quarter net income of $759.7 million.

The Montreal-based company said it had net income of 99 cents per share. Earnings, adjusted for non-recurring gains, were 93 cents per share.

The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 92 cents per share.

The railroad posted revenue of $2.4 billion in the period, which did not meet Street forecasts. Six analysts surveyed by Zacks expected $2.46 billion.

For the year, the company reported profit of $2.76 billion, or $3.54 per share. Revenue was reported as $9.11 billion.

CN shares have climbed 5.5 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $71.13, a rise of 45 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CNI at https://www.zacks.com/ap/CNI


Keywords: Canadian National, Earnings Report