Canadian National Railway (TSX:CNR) (CNI) reported Q1 EPS of Cdn$1.32, Cdn$0.06 worse than the analyst estimate of Cdn$1.38. Revenue for the quarter came in at Cdn$3.71 billion versus the consensus estimate of Cdn$3.67 billion.
Updated 2022 financial outlook: (2)Due to challenging operating conditions in the first quarter as well as worldwide economic uncertainty, CN now expects to deliver approximately 15-20% adjusted diluted EPS growth (compared to its January 25, 2022 target of 20%). (1) CN is now targeting an operating ratio below 60% for 2022 (compared to its January 25, 2022 target of approximately 57%) as well as approximately 15% of ROIC. (1) CN is also now targeting free cash flow in the range of C$3.7 billion - C$4.0 billion in 2022 (compared to its January 25, 2022 target of approximately C$4.0 billion). (1)
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