-- 独立研究机构CFRA向提供了以下研究报告。CFRA分析师总结如下：CNI第一季度调整后每股收益为1.80加元，高于我们此前1.73加元的预期，但低于市场普遍预期的1.81加元。营收下降1%至43.8亿加元，原因是受汇率和碳税不利因素影响，每运输月货运收入下降3%，抵消了3%的销量增长。尽管运营效率有所提升，包括第一季度燃油效率创历史新高以及员工生产率提高8%，但由于成本上涨超过了营收增长，营业比率恶化80个基点至64.2%。各业务板块表现不一：谷物/化肥业务增长10%，而金属/矿产业务下降11%，但基本面依然强劲，按固定汇率计算的营收增长2%。管理层重申了对2026财年全年运输月增长持平的预期，预计每股收益增长将略高于销量增长，并将继续执行28亿加元的资本支出计划。自由现金流飙升44%至9亿加元，用于支持8.69亿加元的股票回购。我们对强劲的运营指标和现金流状况持乐观态度，但通胀成本和汇率不利因素带来的利润率压力仍是短期内需要关注的问题。
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Sector Update: Consumer Stocks Decline Wednesday Afternoon
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Sector Update: Health Care Stocks Softer in Afternoon Trading
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