Canadian National Railway stock: CFO succession follows strong Q3

Published on 10/31/2026 at 10:27 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Canadian National Railway stock follows stronger freight volumes and adjusted earnings. CN keeps its 2026 outlook and names a successor CFO.

What shaped CN this week

Canadian National reported stronger third-quarter freight volumes, revenue and adjusted earnings.
Management kept its 2026 growth outlook, with adjusted earnings tracking toward the upper end of guidance.
Jamie Lockwood will succeed retiring CFO Ghislain Houle in February 2027.

CNI, CA1363751027, Illustration mit AI erstellt.

Canadian National Railway reported stronger third-quarter results on Friday, October 30, 2026, as freight volumes, revenue and adjusted earnings increased. Railway Age also reported the planned change at the top of CN's finance organization.

Stronger freight lifts quarterly results

Revenue rose 15 percent to C$4.771 billion in the quarter ended September 30, 2026. Net income reached C$1.209 billion, while diluted earnings per share increased 9 percent to C$2.00. Adjusted diluted earnings per share rose 18 percent to C$2.16.

Gross ton miles and revenue ton miles each increased 4 percent. CN also reported record third-quarter fuel efficiency, although operating performance was mixed: through dwell increased and car velocity and train speed declined from the year-earlier quarter.

Outlook remains unchanged

CN continues to expect low single-digit revenue-ton-mile growth in 2026 and mid-to-high single-digit growth in adjusted diluted earnings per share. Management said results are tracking toward the upper end of that range. The company plans approximately C$2.8 billion of capital investment in 2026, net of customer reimbursements.

For investors, the unchanged outlook keeps execution and freight demand at the center of the near-term case. The quarter showed support from grain, energy and automotive traffic, while operating metrics and cost pressure remain important indicators for margins.

The real-time quote of Canadian National Railway stock was 110.83 euros on Lang & Schwarz at 10:24 CEST on Saturday, October 31, 2026.

Finance leadership transition set

Ghislain Houle will retire as chief financial officer effective February 1, 2027, after serving as CFO since 2016. Jamie Lockwood, currently vice president of Investor Relations and Special Projects, will succeed him. Houle will remain with CN as a strategic adviser through March 31, 2027.

CN's board also approved a fourth-quarter dividend of C$0.915 per common share, payable December 30 to shareholders of record on December 9.

The broader Canadian market is tracked through the S&P/TSX Composite.

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