Copyright 2006, Traffic World, Inc.
Canadian National Railway reported $373 million in net income and $625 million in operating income in the fourth quarter, up 14 percent and 19 percent, respectively, from the same period in 2004.
Its fourth-quarter operating ratio was a record 61.8, a 3.2-point improvement over 2004. Its 2005 OR improved to 63.8.
"All the pieces came together - stronger pricing, gains from our acquisitions, and solid returns from good service, cost control and improved productivity," said CN''s president and CEO Hunter Harrison.
Fourth-quarter revenue surged 9 percent over the same period in 2004 to $1.64 billion, with intermodal, metals and minerals, and automotive commodity groups registering double-digit revenue gains. Net income for 2005 jumped to $1.35 billion. Operating income for 2005 rose to $2.28 billion. Revenue in 2005 increased to $6.28 billion.