The Globe and Mail reports in its Wednesday, April 24, edition that Canadian National Railway says earnings slid last quarter amid higher labour costs and lower revenue from container shipments.
A Canadian Press dispatch to The Globe reports that the country's largest railroad operator is reporting that net income fell nearly 10 per cent to $1.1-billion in the three months ended March 31 compared with $1.22-billion in the same period a year earlier.
The Montreal-based company says first quarter revenue dipped by about 1 per cent to $4.25-billion from $4.31-billion the previous year.
CN says diluted earnings fell more than 5 per cent to $1.72 a share from $1.82 a share, about on par with analysts' expectations of $1.73 a share, according to LSEG Data & Analytics.
Chief executive officer Tracy Robinson says the company's growth opportunities are taking shape as the economy starts to ramp back up.
CN also says its board approved a second quarter dividend of 84.5 cents a share that will be paid on June 28.
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