Soaring Commodities Give CN a Boost as It Awaits Kansas City Takeover Ruling
- CEO Ruest expects STB ruling in late July or early August
- Lumber, oil help railway post 14% freight revenue gain
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Canadian National Railway Co. is cashing in on a commodities boom that’s fueling demand for exports from Canada.
Strong orders for goods such as metals, lumber and oil gave Canada’s largest railway a boost in the second quarter, with total freight revenue jumping 14% from a year earlier. That helped the Montreal-based company post profit that was almost double that of a year ago, when the Covid-19 pandemic took hold.