Overview

* CN Q3 revenue grows 1% yr/yr but misses analyst expectations

* Adjusted EPS for Q3 beats consensus, reflecting strong operational performance

* Company repurchased nearly 8 mln shares for about C$1 bln

Outlook

* Company maintains 2025 EPS growth guidance in mid-to-high single digits

* Company plans 2026 capital expenditures of C$2.8 bln, down C$600 mln from 2025, to enhance free cash flow

*

Result Drivers

* PRODUCTIVITY IMPROVEMENTS - CN achieved C$75 mln in labor cost reductions, contributing to earnings growth

* SHARE REPURCHASES - Repurchased nearly 8 million shares for approximately C$1 billion, impacting financial results

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Miss C$4.16 C$4.17

Revenue bln bln (19

Analysts

)

Q3 Beat C$1.83 C$1.77

Adjusted (21

EPS Analysts

)

Q3 EPS C$1.83

Q3 Beat C$1.13 C$1.13

Adjusted bln bln (16

Net Analysts

Income )

Q3 Net C$1.13

Income bln

Q3 Beat C$1.60 C$1.58

Adjusted bln bln (19

Operatin Analysts

g Income )

Q3 C$1.60

Operatin bln

g Income

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 11 "strong buy" or "buy", 13 "hold" and 1 "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$153.00, about 14.7% above its October 30 closing price of C$130.55

* The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 17 three months ago

Press Release:

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(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.)