Sept 10 (Reuters) - Canadian National Railway ( CNI )
said on Tuesday its operations have completely recovered
following several months of labor disputes and a total shutdown
of its Canadian network, and revised its full-year financial
outlook.
The railroad has said the work stoppages, as well as the
wildfires in Alberta, led to a quarter-to-date impact of about
20 cents per share to its earnings.
Both CN and Canadian Pacific Kansas City ( CP ) previously
faced a threat of work stoppages by the Teamsters Canada Rail
Conference Union, until the Canadian government intervened and
called for binding arbitration to reach an agreement over a new
contract.
"CN now expects to deliver adjusted diluted EPS growth in
the low single-digit range, compared to its July 23, 2024,
expectation of mid to high single-digit growth," the railroad
said.
The company now expects its adjusted return on invested
capital to be in the range of 13% to 15%, down from its previous
expectation of about 15%.