Shares of Canadian National Railway (CNI) soared 5.11% in pre-market trading on Friday following the release of its third-quarter earnings report that exceeded analyst expectations.

The company reported adjusted earnings per share of C$1.83 for the quarter ended September 30, surpassing the mean analyst estimate of C$1.77. Revenue also showed improvement, rising 1.3% to C$4.17 billion compared to the same period last year, meeting analyst projections.

Canadian National Railway demonstrated operational efficiency with an improved operating ratio of 61.4%, down 170 basis points from the previous year. A lower operating ratio indicates better profitability in the railroad industry. The strong performance comes despite challenging economic conditions, showcasing the company's resilience and effective management strategies.