Oil and container traffic pushes CN Rail to record revenues of nearly

MONTREAL — Canadian National Railway Co. generated its highest ever quarterly revenue and adjusted earnings per share, driven by sharp increases in crude-by-rail and container traffic.Canada’s largest railroad operator says net income rose four per cent year over year to $1.36 billion in the quarter ended June 30.On an adjusted basis, diluted earnings per share climbed 15 per cent to $1.73 — a record for the second quarter — compared to $1.51 during the same period in 2018.Analysts had expected adjusted diluted earnings of $1.65 per share, according to the financial markets data firm Refinitiv.Revenues rose nine per cent to a record $3.96 billion.Revenue from containers and petroleum and chemicals — its two biggest lines of business — rose 15 per cent and 26 per cent, respectively, to hit a total of $1.77 billion, roughly 45 per cent of total revenues.Companies in this story: (TSX:CN)The Canadian Press read more