Canadian National Railway said it had a profit of C$664 million ($670 million) in the third quarter, about 1 percent more than the C$659 million earned in the same 2011 period.
Revenue in the third quarter of 2012 was C$2.5 billion, up 8 percent over the third quarter of 2011, while revenue ton-miles rose 7 percent and carloadings increased 3 percent.
Claude Mongeau, president and chief executive officer, said “petroleum and chemicals led the way with a 15 percent increase in revenues, largely as a result of higher shipments of crude oil originating in western Canada. CN’s crude oil volume in the quarter rose to a run rate of 40,000 carloads on an annualized basis.”
CN benefits from increased crude oil shipments
