Canadian National Railway Co

CNR: XTSE (CAN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	CAD 595.00	Nnv	Hrnplnx

Canadian National Earnings: Intermodal Continues To Struggle; Wildfires a Headwind

Matthew Young

Jul 26, 2023

Wide-moat Canadian National's second-quarter revenue swung negative year over year, falling 9% excluding foreign exchange, on lower volumes and falling fuel surcharges. Revenue came in shy of our forecast due to greater-than-expected intermodal deterioration and network disruption from the Canadian wildfires.

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