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Canadian National revises its 2024 outlook after operations recover from work stoppages
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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%.

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