By Connor Hart

Canadian National Railway logged higher profit and revenue in the first quarter despite operating in what it called a volatile macroeconomic and geopolitical environment.

The Montreal-based rail operator on Thursday posted a profit of 1.16 billion Canadian dollars ($840.5 million), up from C$1.1 billion a year earlier.

Quarterly earnings of C$1.85 a share came in ahead of the C$1.78 a share that analysts surveyed by FactSet expected.

Revenue rose 3.6% to C$4.4 billion, topping the C$4.36 billion that analysts modeled.

Canadian National's petroleum and chemicals segment notched sales of C$915 million, up 7% from last year. The company's grain and fertilizer unit posted sales of C$951 million, while its coal segment logged sales of C$246 million, both representing an 11% increase from a year ago.

These increases were slightly offset by sales across the company's intermodal and metals and minerals segments, which were down single-digit percentages. Automotive sales edged higher, while revenue from forest products was flat.

Revenue ton miles increased 1% in the quarter.

Chief Executive Tracy Robinson said the company will focus on agility and customer collaboration in light of the current macroeconomic and geopolitical climate.

Canadian National backed its outlook for adjusted per-share earnings to grow 10% to 15% in 2025, as well as invest about C$3.4 billion in its capital program.

Over the 2024 to 2026 period, the railroad continues to target compounded annual adjusted per-share earnings growth in the high single-digit range, though it noted there is a heightened risk of recession to recent tariffs and trade actions.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

May 01, 2025 16:28 ET (20:28 GMT)

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