CN reported revenues of more than C$4.2 million for the second quarter ending June 30, a decrease of C$57 million, or 1%.
Additionally, operating income was more than C$1.6 million, an increase of $80 million, or 5%. However, operating income remained flat on an adjusted basis, and revenue ton-miles decreased by 1%.
Operating ratio, defined as operating expenses as a percentage of revenues, of 61.7%, an improvement of 2.3 points; operating ratio improved 0.5 points on an adjusted basis. Diluted earnings per share of C$1.87, an increase of 7%; EPS increased 2% on an adjusted basis.
“Our team’s ability to be nimble and our focus on tight cost control allowed us to adjust our operations and deliver strong results despite a challenging external environment,” CN President and Chief Executive Officer Tracy Robinson said in a release.
“We are working closely with customers, including those impacted by trade issues, to provide them with the services they need to win in their markets,” Robinson added. “We remain focused on powering the North American economy and delivering for shareholders.”
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