Overview

* CN Q2 revenue falls 1% to C$4.272 bln, missing analyst estimates

* Adjusted EPS meets expectations at C$1.87, adjusted net income misses

* Co lowers 2025 adjusted EPS growth forecast due to economic uncertainty

Outlook

* CN expects 2025 EPS growth in mid to high single-digit range

* Company plans C$3.4 bln capital investment in 2025

* CN removes 2024-2026 financial outlook due to volatility

* Company assumes 2025 RTM growth in low single-digit range

Result Drivers

* COST CONTROL - CN attributes strong operating income growth to tight cost control despite revenue decline

* TRADE ISSUES - Company working closely with customers impacted by trade issues to provide necessary services

* ECONOMIC UNCERTAINTY - CN lowers 2025 adjusted EPS growth forecast due to persistent trade and tariff volatility

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Miss C$4.27 C$4.34

Revenue bln bln (19

Analysts

)

Q2 Meet C$1.87 C$1.87

Adjusted (21

EPS Analysts

)

Q2 EPS C$1.87

Q2 Miss C$1.17 C$1.18

Adjusted bln bln (15

Net Analysts

Income )

Q2 Net C$1.17

Income bln

Q2 Miss C$1.64 C$1.66

Adjusted bln bln (18

Operatin Analysts

g Income )

Q2 C$1.64

Operatin bln

g Income

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", 9 "hold" and 2 "sell" or "strong sell"

* The average consensus recommendation for the ground freight & logistics peer group is "buy"

* Wall Street's median 12-month price target for Canadian National Railway Co ( CNI ) is C$159.00, about 14.3% above its July 21 closing price of C$136.26

* The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 17 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)