CN Railway profit, revenue climbs; revises outlook upward
TORONTO, July 21
TORONTO, July 21 (Reuters) - Canadian National Railway Co , the country's largest rail operator, reported an 18-percent jump in second-quarter profit on Monday and revised its 2014 financial outlook.
Net earnings for the quarter ended June 30 rose to C$847 million ($789.6 million), or C$1.03 per share, from C$717 million, or 84 Canadian cents per share, in the same period a year ago.
CN said it now expects to deliver "solid double-digit EPS growth" in 2014 over 2013 earnings per share of C$3.06, versus an earlier forecast of "aiming for double-digit" growth. It also lifted its 2014 free cash flow forecast to a range of C$1.8 billion to C$2 billion, from a previous view of C$1.6 billion to C$1.7 billion. ($1 = 1.0727 Canadian dollars) (Reporting by Susan Taylor)