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Canadian National Railway Q2 profit climbs 8.9% YOY

Canadian National Railway Company said its normalized net income for the second quarter came to 98 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of C$1.05 per share.

EPS increased 11.2% year over year from 89 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$795.6 million, an increase of 8.9% from C$730.6 million in the prior-year period.

The normalized profit margin increased to 25.5% from 23.4% in the year-earlier period.

Total revenue totaled C$3.13 billion, compared with C$3.12 billion in the year-earlier period, and total operating expenses fell 5.1% year over year to C$1.76 billion from C$1.86 billion.

Reported net income increased year over year to C$888.8 million, or C$1.10 per share, from C$850.1 million, or C$1.03 per share.