April 29 (Reuters) – Canadian National Railway Co reported a 6 percent rise in quarterly profit on Monday, as it transported higher volumes of petroleum and chemical products.
U.S. listed shares of the company rose 2.1 percent in after-hours trading.
The company’s net income rose to C$786 million, or C$1.08 per share, in the first quarter ended March 31, from C$741 million, or C$1 per share, a year earlier.
However, excluding one-time items, the railroad company earned C$1.17 per share, missing the analyst average estimate of C$1.18, according to IBES data from Refinitiv.
Canada’s largest railway operator said total carloads, the amount of freight loaded into cars, rose less than a percent.
Operating ratio, a closely watched productivity metric that measures expenses as a percentage of revenue, rose to 69.5 percent from 67.8 percent a year earlier. The lower the ratio, the more efficient a railroad.
($1 = C$1.34)
(Reporting by Arundhati Sarkar in Bengaluru; Editing by Maju Samuel)
