CN reports $1.15B first-quarter profit, down from $1.16B a year earlier

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MONTREAL — Canadian National Railway Co. reported a first-quarter profit of $1.15 billion compared with $1.16 billion a year earlier.

The railway says the profit amounted to $1.87 per diluted share for the quarter ended March 31, up from $1.85 per diluted share in the same quarter last year when it had more shares outstanding.

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On an adjusted basis, CN says it earned $1.80 per diluted share in its latest quarter, down from an adjusted profit of $1.85 per diluted share in the first quarter of 2025.

Revenue totalled $4.38 billion, down from $4.40 billion in the same quarter last year.

The railway says gross ton miles increased three per cent compared with a year earlier while revenue ton miles also gained three per cent.

CN’s operating ratio, its operating expenses as a percentage of revenues, was 64.6 per cent in its latest quarter compared with 63.4 per cent a year earlier.

This report by The Canadian Press was first published April 29, 2026.

The Canadian Press