Canadian National Railway (CNI) Q2 2026 Earnings Beat on Grain and Petroleum Surge
As seen on the 24/7 Wall St. homepage on July 24, 2026.
Canadian National Railway beat EPS by 6% and revenue by 2.8% as grain and petroleum volumes surged, then raised full-year guidance despite fuel costs nearly doubling year over year.
Continue ReadingShow less
Canadian National Railway posted Q2 2026 earnings per share of $2.08, clearing the consensus estimate of roughly $1.96 by about 6%. Revenue came in at $4.75 billion, topping expectations by nearly 2.8%, with grain and petroleum volumes cited as key drivers of the outperformance. The result marks a notable step up from the $1.87 EPS the company delivered in both Q2 and Q1 2025.
The quarter was not without pressure. Fuel costs nearly doubled year over year, a headwind that management acknowledged even as it chose to raise full-year guidance — a signal that confidence in freight demand trends outweighs near-term cost concerns. Looking at the recent earnings history, CNI has now beaten EPS estimates in five of the past eight reported quarters, with Q2 2026 and Q4 2025 both landing at $2.08, the highest prints in that stretch.
Disclosure
*$149 for two years (or $1.43 per week) is an introductory promotion for new members only. 62% discount based on the current list price of Stock Advisor of $199/year. Membership will renew at the then-current list price at the end of the membership term. Stock Advisor returns are 930% as compared to the S&P 500 returns of 185% as of April 7, 2026.
The same investor newsletter that told subscribers to buy Amazon in 2002, Netflix in 2004, and Nvidia in 2005 still publishes two new stock picks every month. Over 23 years, Motley Fool's Stock Advisor has more than quadrupled the S&P 500. New members get this month's picks, the Top 10 Rankings, and a 30-day money-back guarantee. Click here to unlock their next top stocks while new members are still being accepted.
The guidance raise is the detail most worth watching going forward. When a railroad lifts its full-year outlook despite a significant cost spike, it typically reflects visibility into contract volumes and pricing that the market may not yet be fully pricing in. Investors will be looking to see whether grain and petroleum momentum holds through the second half of the year.
Mentioned: CNI