Canadian National Railway raised its full-year 2026 guidance after reporting second-quarter revenues of $4.8 billion, an 11% increase driven by record performance in grain and energy products. Adjusted diluted earnings per share rose 11% to $2.08, or 12% on a constant currency basis, while revenue ton miles grew 5% to 62.3 billion. The company now expects mid- to high single-digit adjusted diluted EPS growth for the year, up from its prior forecast, on low single-digit RTM growth. CN also announced two strategic agreements with Union Pacific that secure long-term access to Mexico via Memphis and, contingent on regulatory approval of a merger, competitive access to Kansas City, mitigating concerns about broader rail industry consolidation. Operational productivity initiatives, including the Fast Track program, delivered $100 million in realized savings year-to-date, and free cash flow for the first half reached $1.8 billion, a 19% increase.
Canadian National Railway CompanyRecord grain and energy volumes drove 11% revenue growth and raised 2026 guidance.
Union Pacific CorporationStrategic agreements with CN secure long-term access to Mexico and competitive access to Kansas City.