Canadian Railroads’ Earnings Improve

Canada’s two major freight railroads reported higher second-quarter earnings from a year ago on stronger rates and volume.

Canadian National Railway Co., the country’s largest freight railroad, said its profit rose 14% to C$717 million, or C$1.69 per share, from C$631 million, or C$1.44, a year earlier.

Revenue rose 5% to C$2.67 billion on freight rate increases and higher energy-market demand. Intermodal revenue rose 3%.

Canadian Pacific Railway’s net income more than doubled to C$252 million, or C$1.43 per share, from $103 million, or 60 cents.

Revenue rose 10% to C$1.5 billion. Intermodal revenue slipped 2%.