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Canadian National Railway Q3 profit climbs 16.6% YOY

Canadian National Railway Company said its normalized net income for the third quarter was C$1.08 per share, compared with the S&P Capital IQ consensus estimate of C$1.15 per share.

EPS rose 19.3% year over year from 91 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$866.9 million, a gain of 16.6% from C$743.8 million in the prior-year period.

The normalized profit margin rose to 26.9% from 23.9% in the year-earlier period.

Total revenue grew on an annual basis to C$3.22 billion from C$3.12 billion, and total operating expenses fell 5.3% on an annual basis to C$1.74 billion from C$1.83 billion.

Reported net income grew 18.3% year over year to C$1.01 billion, or C$1.26 per share, from C$853.7 million, or C$1.04 per share.