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Canadian National Railway Q1 profit climbs 29.8% YOY

Canadian National Railway Company said its normalized net income for the first quarter was 74 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 85 cents per share.

EPS rose 32.5% year over year from 56 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$601.9 million, a gain of 29.8% from C$463.8 million in the prior-year period.

The normalized profit margin increased to 19.4% from 17.2% in the year-earlier period.

Total revenue rose 15.0% year over year to C$3.10 billion from C$2.69 billion, and total operating expenses rose 8.6% year over year to C$2.04 billion from C$1.87 billion.

Reported net income grew 12.3% year over year to C$700.3 million, or 86 cents per share, from C$623.5 million, or 75 cents per share.