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A CN locomotive at the CN Stuart Yard in Hamilton, Ont. The railway has cut its capital spending plans by $600-million for next year.Peter Power/The Canadian Press
Canadian National Railway Co. CNR-T has posted a 5-per-cent rise in profit, weathering a “challenging” economy that saw revenue rise by 1 per cent in the third quarter.
CN said Friday morning it has slashed its capital spending plans for 2026 by $600-million to $2.8-billion from $3.4-billion this year. The railway has shed 1,200 jobs since this time last year.
“We are taking decisive actions to navigate a challenging macro environment including doubling down on productivity,” said Tracy Robinson, CN’s chief executive officer.
Profit for the three months ending on Sept. 30 was $1.13-billion or $1.83 a share, CN said, compared with $1.09-billion ($1.72) in the third quarter of 2024. Revenue totalled $4.2-billion.
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In financial results released before markets opened, CN said it is sticking with earlier 2025 guidance of adjusted earnings growth of 5 per cent to 9 per cent.
CN increased train length by 3 per cent and fuel efficiency by 2 per cent, contributing to a 3-per-cent drop in operating expenses, compared with the same quarter of 2024.
CN’s share price has fallen by 11 per cent this year on the Toronto Stock Exchange amid economic uncertainty brought about by U.S. President Donald Trump’s tariffs. CN employs 24,000 and operates a rail network that spans Canada and extends through the United States.
