CN Now Sees Flat To Slightly Negative YoY Adj. EPS Growth
Portfolio Pulse from Benzinga Newsdesk
CN has revised its full-year outlook for 2023, now expecting flat to slightly negative year-over-year growth in adjusted diluted EPS, compared to its previous expectation of mid-single digit growth. This is due to weaker than anticipated volumes in the second half of 2023. However, CN maintains its longer-term financial perspective, targeting 10%-15% annual diluted EPS growth over the 2024-2026 period.
July 25, 2023 | 8:20 pm
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NEGATIVE IMPACT
CN's revised outlook for 2023 could negatively impact its stock price in the short term. However, the company's longer-term growth targets may provide some reassurance to investors.
CN's revised outlook indicates weaker than expected performance in 2023, which could lead to a decrease in its stock price. However, the company's reaffirmation of its longer-term growth targets suggests that this may be a temporary setback.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100