Harsh winter takes a toll on CN Rails revenue gains during first

MONTREAL — The Canadian National Railway Co. saw first-quarter profits fall slightly short of analysts’ expectations, as operating costs caused by harsh winter weather worked to offset the company’s revenue increase.The country’s largest railway says it earned $848 million on an adjusted basis or $1.17 per diluted share in the quarter ended March 31.That falls just shy of analysts’ forecast of $1.18 per diluted share, according to Thomson Reuters Eikon, though the number marks a 17 per cent increase from the same period in 2018.CN Rail’s revenues rose 11 per cent year over year to $3.54 billion last quarter, but operating expenses climbed 13 per cent to $2.46 billion.Net income increased six per cent to $768 million from $741 million.The company says extreme winter conditions hurt its bottom line as operating costs shot up in February and March.Companies in this story: (TSX:CNR)The Canadian Press read more