$124.06
−0.20%Research · Oct 19, 2026
[CNI] CN: Q3 2026 earnings preview on the fuel surcharge lag and grain volumes
CN grew Q2 2026 revenue 11% to C$4.75 billion with adjusted EPS of C$2.08; Q3 tests whether the fuel surcharge lag becomes the roughly C$0.15 EPS tailwind management flagged.
Research · Sep 3, 2026
[CNI] CN Rail Thesis 2026: Operating Ratio Discipline Holds Through Flat Revenue Year
Canadian National Railway FY25 (Dec 31, 2025; CAD) at C$17.29B revenue (+1%). NI C$4.72B; EPS C$7.56 (+8%). Op margin 38.1% (+140bp). FCF C$3.39B. Capex C$3.66B. Capital return ~C$4.3B (C$2.21B div + C$2.12B buyback). Steady execution year; no major strategic shifts.