CNR Reports C$1.2B Net Income, Up 9% In Q4

CNR reported C$1.2 billion net income for Q4 2025, up 9%. Revenue grew 2% to C$4.5 billion, with operating ratio at 61.2%.

CNR Reports C$1.2B Net Income, Up 9% In Q4
January 30, 2026 9:39 pm | Last Update: February 11, 2026 4:04 pm
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Canadian National Railway (TSX: CNR, NYSE: CNI) reported net income of C$1.2 billion for the fourth quarter of 2025, a 9% year-over-year increase. The Montreal-based company generated C$4.5 billion in revenue during the same period, representing a 2% rise. Adjusted diluted earnings per share for the quarter increased by 14% to C$2.08.

The company’s operating ratio improved to 61.2%, a change of 1.4 percentage points from the 62.6% recorded in the fourth quarter of 2024. This was concurrent with a 4% increase in freight volume as measured by revenue ton miles. Gross ton miles grew by 5% over the same period.

Operational metrics for the fourth quarter of 2025 included a 3% increase in average train length to 7,868 feet. Car velocity across the network increased by 2%, while through dwell time at terminals decreased by 1% compared to the prior-year period.

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