Canadian National Railway Co

CNR: XTSE (CAN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	CAD 682.00	Fwbl	Gpyqqrq

Canadian National Earnings: Volumes Flip Positive, but Margins Hit by Maintenance Disruption

Matthew Young

Jul 24, 2024

Wide-moat Canadian National's second-quarter revenue was up 7% as total volume and yield (revenue per carload) flipped positive. Revenue was mostly in line with our expectations as a jump in international intermodal activity offset marked weakness in coal and domestic intermodal, which continues to struggle with heavy competition from the trucking sector.

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