A CN locomotive is seen in this file photo.Graham Hughes/The Canadian Press
Canadian National Railway beat expectations as its net profit surged 18 per cent in the third quarter on higher revenues.
The country's largest railway said it earned more than $1-billion in the three months ended Sept. 30. Its diluted earnings per share rose 21 per cent to $1.26.
Revenues grew three per cent to $3.22-billion despite a six per cent decrease in volume measured by carloadings and revenue ton-miles.
CN was expected to earn $1.14 per share on $3.2-billion of revenues according to analysts polled by Thomson Reuters.
The Montreal-based company said its operating ratio improved five percentage points to a record 53.8 per cent.