Canadian National Railway Co (CNR.TO) has reported solid earnings, surpassing expectations and showing resilience in a challenging environment.
On July 24, 2026, Canadian National Railway Co (CNR.TO) released its second-quarter earnings for the fiscal year ending June 30, 2026. The company reported adjusted earnings per share (EPS) of $2.08, beating analyst estimates of $1.96 by 6.1%. This marks the third earnings beat in the last four quarters, reflecting a consistent trend of financial strength despite external challenges.
Recent earnings trend
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Canadian National Railway Co
CNR.TO
CNR.TO
Canadian National Railway Co
WealthAwesomeMarket cap
$100.72B
P/E
21.4x
Div. yield
2.13%
Div. / share
$3.60
52W high
$184.25
52W low
$125.06
1W change
-1.67%
Beta
0.99
Analyst Price Targets
Based on analyst covering CNR · as of Sep 25, 2026
Wall Street analysts forecast CNR stock price to rise 13.8% over the next 12 months.
Consensus
Moderately BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$189.74
+13.8% Upside
Previously C$190.11 on Sep 24, 2026
Current Price
C$166.73
Last close
Targets are snapshotted when they change. Unchanged figures keep their original date. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on CNR's historical volatility
30-Day Vol
16.4%
Annualized
90-Day Vol
17.6%
Annualized
Trend (90d)
-18.7%
Annualized drift
90d Mean
C$155.93
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$163.05 | C$154.05 – C$172.57 |
| 60 trading days | C$159.45 | C$147.15 – C$172.78 |
| 90 trading days | C$155.93 | C$141.33 – C$172.04 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ±1σ, 95% band = ±2σ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
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Analyst coverage: 20 analyst(s) cover this name; upcoming EPS consensus is available.
Beat estimates in 3 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-09-30 | 2026-10-30 | — | 2.0700 | — |
| 2026-06-30 | 2026-07-24 | 2.0800 | 1.9600 | +6.1% |
| 2026-03-31 | 2026-04-29 | 1.8000 | 1.8100 | -0.6% |
| 2025-12-31 | 2026-01-30 | 2.0800 | 1.9800 | +5.1% |
| 2025-09-30 | 2025-10-31 | 1.8300 | 1.7700 | +3.4% |
| 2025-06-30 | 2025-07-22 | 1.8700 | 1.8700 | +0.0% |
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Investor takeaway: Investors should note Canadian National's strong earnings growth and improved productivity metrics, which position the company well for future performance. However, potential risks such as economic volatility and competitive pressures should also be considered when evaluating the stock.
EPS Surprises by 6.12%
Canadian National Railway Co's EPS of $2.08 outperformed estimates by $0.12, continuing a trend of exceeding market expectations and demonstrating strong operational resilience.
Bull case
The company's EPS grew by 12% year-over-year, and it has made significant improvements in productivity and fuel efficiency. These factors highlight its operational effectiveness. Strategic partnerships, like the one with Union Pacific, are expected to enhance market access and drive future growth.
Bear case
Challenges still exist, including economic uncertainties, fluctuating fuel prices, and potential impacts from wildfires in key operational areas. Additionally, overseas intermodal volumes are expected to weaken, which could pressure revenue in the latter half of the year.
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