CN Rail profits rise despite U.S. trade war, as cargo volumes inch up

Canadian National Railway Co. CNR-T +4.31%increase says profits rose five per cent in its latest quarter as the country’s biggest railroad operator worked through a trade war set off by U.S. President Donald Trump.

CN is reporting net income rose to $1.16 billion in the first quarter, from $1.10 billion the year before.

The Montreal-based company says revenues increased four per cent to $4.40 billion in the three months ended March 31 from $4.25 billion in the same period a year earlier.

It says diluted earnings per share jumped nearly eight per cent to $1.85 from $1.72.

The railway says cargo volumes – as measured in revenue ton miles, a key metric gauging how many tons of freight are hauled in a mile – increased one per cent year-over-year.

In a release Thursday, CN said its financial forecast for 2025 remains unchanged, but stressed the “heightened recessionary risk related to tariffs and trade actions” taken by the U.S. and other countries.