CN Rail Shares Drop the Most Since 2021 Amid Macro Uncertainty.

The article focuses on Canadian National Railway Co.'s (CN) first-quarter financial results, highlighting a 1% revenue decline to C$4.38 billion, slightly below analyst expectations amid uncertain North American trade conditions. Despite a 10% increase in grain and fertilizer shipments due to reduced Chinese tariffs on canola, sales in metals, minerals, forest products, and automotive segments declined, influenced by U.S. tariff policies. CN's operating ratio rose to 64.6%, and the company maintained its full-year outlook with flat revenue ton-mile growth expected. Uncertainty surrounding the United States-Mexico-Canada Agreement (USMCA) negotiations and currency fluctuations were noted as factors impacting investor sentiment and earnings forecasts. [Extracted from the article]