Canadian National (CNI) Q2 Earnings & Revenues Miss Estimates

Revenues for the second quarter of 2024 were $3.16 billion (C$4.33 billion), which lagged the Zacks Consensus Estimate of $3.23 billion. However, this reflects an increase of 4.75% year over year, driven by higher volumes. The operating income for the second quarter of 2024 decreased by 3% when compared to the same period in 2023. The operating ratio, defined as operating expenses as a percentage of revenues, was 64% in the second quarter of 2024 compared with 60.6% in the second quarter of 2023. Liquidity ...