Canadian National Railway Co on Monday became the latest railroad operator to bl...
- Canadian National Railway Co on Monday became the latest railroad operator to blame higher operating expenses due to prolonged extreme cold weather for a lower-than-expected quarterly profit.
Last week, smaller rival Canadian Pacific Railway missed analysts’ estimates for quarterly profit as it spent heavily to combat a harsh winter that impacted its operations. However, CN Rail and Canadian Pacific are set to benefit from Canada’s oil-producing province of Alberta’s move to buy rail cars to transport 120,000 barrels per day of crude oil after congested pipelines stranded much of Western Canada’s expanding crude output.
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