Canada’s two biggest freight railroads reported higher earnings for the first quarter.
Canadian National Railway Co.’s net income climbed to C$775 million, C$1.75 per share, from C$668 million, or C$1.45, a year ago. Revenue rose 13% to C$2.35 billion.
Canadian Pacific Railway Ltd.’s net income jumped 318% to C$142 million, or 82 cents per share, from C$34 million, or 20 cents, last year. Revenue rose to C$1.38 billion, from C$1.16 billion.