Revenues climbed 11% year-on-year to $C 3.54bn ($US 2.63bn) with adjusted operating ratio improving by 0.6 points to 67.2%. Total wagon loadings increased 1% to 1.42 million.

Operating expenses increased 14% to $C 2.46bn, primarily due to costs relating to the rollout of Positive Train Control, increased labour costs, winter conditions and a weakening Canadian dollar.

Diluted earnings per share (EPS) increased 8% to $C 1.08 and CN says it is on course to achieve adjusted diluted EPS growth “in the low double-digits” this year.