Business · Companies · 12 hrs ago
Grain and fuel shipments lift CN Rail’s third-quarter profit
Canadian National Railway’s third-quarter net income rose 6% from a year earlier, to $1.21 billion.
Higher shipments of grain and petroleum and chemicals helped drive the increase.
Revenue climbed 14.5% to $4.77 billion, while fuel costs rose 56%.
CEO Tracy Robinson said Canada’s investment climate had become more positive under Prime Minister Mark Carney’s government, despite ongoing tariff pressures.
CN says it has overcome $350 million in tariff headwinds from the previous year, and trade on its tracks has stabilized.
A planned deal with Union Pacific would give CN access to a rail route into Mexico’s manufacturing corridor, though the agreement is not yet final.
CN left its 2026 financial forecast unchanged.
Canadian National Railway reported a 6 per cent year-over-year increase in third-quarter net income to $1.21 billion.
Revenue rose 14.5 per cent to $4.77 billion, partly offset by a 56 per cent increase in fuel costs.
Higher grain and fuel shipments helped drive the results, the company’s chief executive said.
CN left its 2026 financial forecast unchanged.
CEO Tracy Robinson said a planned agreement with Union Pacific would give CN access to a Mexican manufacturing corridor.
- Who
- Canadian National Railway (CN), Canada’s largest railroad operator. CEO Tracy Robinson discussed the results.
- What
- CN’s third-quarter net income rose 6 per cent year over year to $1.21 billion, boosted by grain and fuel shipments.
- When
- The results were reported on Friday, October 30, 2026.
- Where
- CN is based in Montreal, and its rail network operates in Canada. A planned deal would provide access to Union Pacific tracks between Memphis and Eagle Pass, Texas.
- Why
- Increased grain and fuel shipments contributed to the profit rise.
This story does not have two clearly opposing sides.
CN temporarily suspended rail operations on a portion of its main line in northwestern Ontario after wildfires forced train crews to evacuate.
CN reported its third-quarter results and said net income rose 6 per cent year over year.
- Third-quarter net income
- $1.21 billion, up 6 per cent year over year
- Revenue
- $4.77 billion, up 14.5 per cent
- Fuel costs
- Up 56 per cent from the same period a year earlier
- Petroleum and chemical revenue
- $1 billion, up 17 per cent year over year
- Adjusted diluted earnings per share
- $2.16, compared with $1.83 a year earlier
- Planned Union Pacific access
- CN would be able to run trains over UP tracks between Memphis and Eagle Pass, Texas
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What people are saying
Energy continues to be a key growth driver.
The Carney administration has leaned into creating a more positive environment for investment
This is a very constructive environment and it’s focused on getting Canada’s natural resources, which are in high demand, to markets across the continent and around the world.
We’ve overcome the $350-million of tariff headwinds from last year