Trade Turmoil Hurts CN Railway; Stock Drops Most Since 2021.

The article focuses on Canadian National Railway Co.'s (CN) first-quarter financial results, highlighting a 1% revenue decline to C$4.38 billion, which fell short of analyst expectations amid ongoing uncertainty in North American trade. Despite a 10% increase in grain and fertilizer shipments, CN faced declines in metals, minerals, forest products, and automotive segments, influenced by US tariff policies and unclear outcomes from US-Mexico-Canada Agreement (USMCA) negotiations. CN's leadership expressed caution about trade developments and noted that higher fuel costs due to the Middle East conflict would pressure earnings in the first half of the year. The company maintained its full-year outlook, expecting flat growth in revenue ton-miles and a stronger Canadian dollar, while its operating ratio rose to 64.6%, reflecting reduced efficiency. [Extracted from the article]