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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (69649)	10/23/2019 8:08:38 AM
From: Goose94	Read Replies (2) \| Respond to of 203898

Canadian National Railway (CNR-T) has cut its 2019 profit outlook. CNR said growth in cargo volumes will decline this year as demand for rail freight slows amid trade tensions and economic uncertainty. CNR's adjusted per-share profit growth for 2019 will be less than 10 per cent, down from the low double-digit forecast issued in July. But Canada's largest rail carrier said profit rose by 8 per cent to $1.2-billion, or $1.66 a share, while revenue rose by 4 per cent to $3.86-billion, for the three months ending Sept. 30. Analysts expected per-share net profit of $1.62 and revenue of $3.86-billion. CNR said the rise in revenue was mainly owing to freight price increases and a jump in shipping container sales. U.S. manufacturing activity sank to a 10-year low in September amid trade tensions that have slowed exports and raised fears of a sharp economic slowdown. Heightening the concerns is weaker consumer spending in Canada and the United States. Desjardins analyst Benoit Poirier says CNR's results were dragged down by weakness in "multiple" freight categories, including grain, lumber, potash and oil.