Canadian National Railway is sticking with its outlook for double-digit profit growth over the next few years, moving past a 2023 marred by labor strife, low grain shipments and a sluggish economy.

Railway operator Canadian Pacific Kansas City Ltd. said a weakening economy and spate of labor disruptions weighed on freight volumes in the third quarter more than management anticipated.

Canadian National Railway Co. spelled out a challenging picture for the economy as earnings fell short of expectations in the third quarter, partly due to falling demand for consumer goods.