CN Rail Doing Well After Tough Winter

CN Train

CBJ — Canada’s largest railway company is doing better than expected after a harsh winter that resulted in the ousting of its chief executive Luc Jobin amid a backlog of shipments.

CN Rail CFO Ghislain Houle says that volumes are up 14% in the first part of the second quarter after a 4% decline in the opening quarter. Increased demand for lumber, grain, coal and sand are at the core of the improved shipment numbers.

Headquartered out of Montreal, CN Rail is reaping the benefits of its Prince Rupert, B.C. port facility, which is expanding faster than expected and is now on pace to reach full capacity two years ahead of schedule.

Capital expenditures at CN Rail have increased by $200 million to reach $3.4 billion and will be hiring more conductors while adding about 200 more locomotives to its transport network.

@CanBizJournal

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