financetom
Business
financetom
/
Business
/
Canadian National revises its 2024 outlook after operations recover from work stoppages
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Canadian National revises its 2024 outlook after operations recover from work stoppages
Sep 11, 2024 4:34 AM

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%.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Major Canadian news media companies launch legal action against OpenAI
Major Canadian news media companies launch legal action against OpenAI
Nov 29, 2024
OTTAWA, Nov 29 (Reuters) - Five major Canadian news media companies on Friday filed a legal action against ChatGPT owner OpenAI, accusing it of regularly breaching copyright and online terms of use. In a statement, Torstar, Postmedia, The Globe and Mail, The Canadian Press, and CBC/Radio-Canada said OpenAI was scraping large swaths of content from media to help develop its...
RumbleOn Facing Concerns About State of Powersports Payment Buyer, B. Riley Says
RumbleOn Facing Concerns About State of Powersports Payment Buyer, B. Riley Says
Nov 29, 2024
11:03 AM EST, 11/29/2024 (MT Newswires) -- RumbleOn ( RMBL ) is facing concerns about the state of the powersports payment buyer and a potentially slower industry recovery, B. Riley Securities said in a note Friday. Although the Fed has reduced interest rates... we would not be surprised if payment buyers remain on the sidelines, for the most part until...
Taylor Swift fans turn out early for book launch at Target
Taylor Swift fans turn out early for book launch at Target
Nov 29, 2024
* Target's ( TGT ) exclusive Swift merchandise attracts early Black Friday shoppers * Swift's Eras Tour book and album boost Target's ( TGT ) sales * Target ( TGT ) to offer Swift's merchandise online starting Saturday * People lined up before 5.a.m. at some stores (Adds shopper comments throughout and price of Taylor Swift merchandise) By Siddharth Cavale...
--Street Color: United Bankshares Gets Federal Reserve Board Approval to Acquire Piedmont Bancorp
--Street Color: United Bankshares Gets Federal Reserve Board Approval to Acquire Piedmont Bancorp
Nov 29, 2024
11:00 AM EST, 11/29/2024 (MT Newswires) -- Price: 42.22, Change: -0.27, Percent Change: -0.64 ...
Copyright 2023-2026 - www.financetom.com All Rights Reserved