CN increases net income 2% in Q2 2015

Canadian National Railway reported a net income of $866 million Canadian for the second quarter of 2015.    Canadian National Railway (CN) reported a 2 percent increase in net income to $866 million Canadian (U.S. $666.12) in the second quarter of 2015 compared with the second quarter of 2014.
   Earnings per diluted share in the second quarter increased to $1.10 Canadian per diluted share compared with $1.03 Canadian per diluted share in the second quarter of 2014. The company’s second quarter results included a deferred income tax expense of $42 million Canadian, equivalent to $0.05 Canadian per diluted share, resulting from the enactment of a higher provincial corporate income tax rate.
   CN revenues were $3.13 billion Canadian for Q2 2015, almost unchanged from the same quarter last year, when revenues were $3.12 billion Canadian.
   Carloadings for the quarter were down 3 percent to 1.42 million. Revenue ton miles were down 7 percent to 55.72 billion, while the railway’s operating ratio improved by 3.2 points to 56.4 percent.
   “We’re focused on our long-term agenda and investing C$2.7 billion in CN’s capital program this year to support it, with an emphasis on the integrity and safety of the network,” CN’s President and CEO Claude Mongeau said in a statement.