CNI stock gains as Canadian National Railway lifts outlook on Q2 2026 growth

Canadian National Railway Company (ISIN CA1363751027), whose CNI stock is listed in New York and Toronto, is benefiting from solid operating momentum after the company reported double digit sales growth in Q2 2026 and raised its outlook for the second half of 2026 as of September 2, 2026, according to a recent analysis.

Q2 2026 revenue growth and outlook

According to an article on Motley Fool Canada dated September 2, 2026, Canadian National Railway grew its Q2 2026 sales by 11% year over year, supported by a 5% increase in revenue ton miles.

The same analysis notes that Canadian National Railway raised its outlook for the second half of 2026, with management now targeting a 5% revenue increase to approximately CAD 100 million compared with the prior guidance range for that period.

Profitability, shareholder returns and valuation context

Market data compiled by Yahoo Finance show that Canadian National Railway generated trailing twelve month revenue of USD 17.16 billion and diluted EPS of USD 4.87 as of early September 2026, providing a scale reference for investors who follow the CNI stock.

The same Yahoo Finance overview lists an EPS (TTM) of USD 5.60 and a forward annual dividend of USD 2.60 per share, corresponding to a dividend yield of about 2.16% as of September 2, 2026, underscoring Canadian National Railway's policy of combining growth investment with cash returns to shareholders.

A separate valuation snapshot from GuruFocus dated September 2, 2026 indicates that, at a then current price of USD 120.42, CNI traded significantly above an estimated intrinsic value of USD 74.05, implying a negative margin of safety of 62.6% and highlighting that the market is pricing in sustained earnings strength.

In addition, a portfolio article in The Globe and Mail dated September 2, 2026 notes that Canadian National Railway repurchased approximately CAD 1.3 billion worth of shares in 2026 and that investors have bid up the price of Canadian National Railway stock so far this year, supporting the view that buybacks and operating performance together underpin the share price.

Traffic volumes and network role

Canadian National Railway operates a transcontinental rail network across Canada and into the United States, and the Q2 2026 figure of a 5% increase in revenue ton miles, as highlighted by Motley Fool Canada on September 2, 2026, points to expanding freight volumes on this network compared with the same quarter a year earlier.

For investors, this combination of volume growth and raised revenue guidance suggests that Canadian National Railway is successfully leveraging its infrastructure and pricing to convert demand trends into higher top line and ultimately higher earnings, while share repurchases of CAD 1.3 billion in 2026, as noted by The Globe and Mail on September 2, 2026, reduce the share count and can amplify EPS growth.

Representative service offering

Beyond the headline financials, Canadian National Railway generates revenue from a wide mix of freight categories including intermodal containers, grain, forest products, metals and energy, which together contribute to the Q2 2026 sales figure that was 11% higher year over year according to the Motley Fool Canada article dated September 2, 2026.

CNI stock price context for investors

On the Toronto Stock Exchange, the Canadian listing CNR.TO for Canadian National Railway recorded a price of CAD 167.46 as of September 2, 2026, with a 52 week trading range between CAD 126.11 and CAD 185.25, based on a market snapshot referenced by Kalkine Media.