Canadian National Railway (TSX:CNR) Stock Faces A Q3 Earnings Valuation Question
Published . Updated .
Canadian National Railway stock closed Q3 earnings day at CA$172.81, roughly flat over the past week and modestly ahead over the past month, even as the headline story sat in the income statement. The railway just posted Q3 2026 basic earnings per share of CA$2.00 on CA$4.77b of
Directly affected
- CNI Canadian National Railway-1.1% 30d
Named in this report.
Indirectly affected
- IYT iShares U.S. Transportation ETF
iShares U.S. Transportation ETF: it holds transport and logistics firms. Linked by “railway” (transport and logistics) in this story.
- EWC iShares MSCI Canada ETF+0.3% 30d
iShares MSCI Canada ETF holds stocks listed in Canada, which this story is about (“canadian”).
- UPS United Parcel Service+5.7% 17d
United Parcel Service (trucking and courier services (no air)): freight and delivery firms move with trade volumes. Linked by “railway” (transport and logistics) in this story.
- FDX FedEx+5.8% 30d
FedEx (air courier services): freight and delivery firms move with trade volumes. Linked by “railway” (transport and logistics) in this story.
- UNP Union Pacific+6.6% 30d
Union Pacific (railroads, line-haul operating): freight and delivery firms move with trade volumes. Linked by “railway” (transport and logistics) in this story.
- CP Canadian Pacific Kansas City+3.3% 30d
Canadian Pacific Kansas City (railroads, line-haul operating, with business in Canada): freight and delivery firms move with trade volumes. Linked by “railway” (transport and logistics) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| CNI | -0.30% | +0.53% | base | after close | after close | after close | after close |
| IYTNo price data for this ticker | — | — | — | — | — | — | — |
| EWCNo price data for this ticker | — | — | — | — | — | — | — |
| UPSNo price data for this ticker | — | — | — | — | — | — | — |
| FDXNo price data for this ticker | — | — | — | — | — | — | — |
| UNPNo price data for this ticker | — | — | — | — | — | — | — |
| CPNo price data for this ticker | — | — | — | — | — | — | — |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
Market Call
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Canadian National Railway (TSX:CNR) Stock Faces A Q3 Earnings Valuation Question Yahoo Finance
Source: Yahoo Finance
The price since 1 Nov 2026: Ishares Tr (IYT) versus the S&P 500
| Company | When | Move | Status |
|---|---|---|---|
| Canadian National Railway (CNI) | three days earlier | +0.53% | final price |
| Canadian National Railway (CNI) | five days earlier | -0.30% | final price |
Congressional stock trades in Ishares Tr (IYT)
- Rep. Rick Larsen sold Fedex (FDX), worth $1,001 - $15,000 on 8 Oct 2026. That is 24 days before publication. Filed 12 Oct 2026. View the filing.
- Rep. Rohit Khanna sold Fedex (FDX) (held by a spouse), worth $1,001 - $15,000 on 25 Sep 2026. That is 37 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Maria Elvira Salazar sold Fedex (FDX), worth $1,001 - $15,000 on 24 Sep 2026. That is 38 days before publication. Filed 7 Oct 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
Who gains and who loses around Ishares Tr (IYT)
Companies tied to this story
- IYT Ishares Tr
For “Canadian National Railway (TSX:CNR) Stock Faces A Q3 Earnings Valuation Question,” Ishares Tr (IYT) is linked, with no stored direction, medium confidence. Reason on file: iShares U.S. Transportation ETF: it holds transport and logistics firms. Linked by “railway” (transport and logistics) in this story
- EWC Ishares Msci Canada Etf
For “Canadian National Railway (TSX:CNR) Stock Faces A Q3 Earnings Valuation Question,” Ishares Msci Canada Etf (EWC) is linked, with no stored direction, medium confidence. Reason on file: iShares MSCI Canada ETF holds stocks listed in Canada, which this story is about (“canadian”)
- CNI Canadian National Railway
Canadian National Railway (CNI) is linked, with no stored direction, medium confidence in the 1 Nov 2026 story “Canadian National Railway (TSX:CNR) Stock Faces A Q3 Earnings Valuation Question.” Reason on file: Canadian National Railway (railroads, line-haul operating, with business in Canada): freight and delivery firms move with trade volumes. Linked by “railway” (transport and logistics) in this story
- UPS United Parcel Service
For “Canadian National Railway (TSX:CNR) Stock Faces A Q3 Earnings Valuation Question,” United Parcel Service (UPS) is linked, with no stored direction, medium confidence. Reason on file: United Parcel Service (trucking and courier services (no air)): freight and delivery firms move with trade volumes. Linked by “railway” (transport and logistics) in this story
- FDX Fedex
In “Canadian National Railway (TSX:CNR) Stock Faces A Q3 Earnings Valuation Question,” Fedex (FDX) is linked, with no stored direction, medium confidence. Reason on file: FedEx (air courier services): freight and delivery firms move with trade volumes. Linked by “railway” (transport and logistics) in this story
- UNP Union Pacific
Union Pacific (UNP) is linked, with no stored direction, medium confidence in the 1 Nov 2026 story “Canadian National Railway (TSX:CNR) Stock Faces A Q3 Earnings Valuation Question.” Reason on file: Union Pacific (railroads, line-haul operating): freight and delivery firms move with trade volumes. Linked by “railway” (transport and logistics) in this story
Ishares Tr (IYT)
The 1 Nov 2026 story “Canadian National Railway (TSX:CNR) Stock Faces A Q3 Earnings Valuation Question” names Ishares Tr (IYT) because of this story.
For Ishares Tr (IYT), the reason on file says iShares U.S. Transportation ETF: it holds transport and logistics firms. Linked by “railway” (transport and logistics) in this story
A second company, Ishares Msci Canada Etf (EWC), is listed for a different reason: iShares MSCI Canada ETF holds stocks listed in Canada, which this story is about (“canadian”)
Price levels for Ishares Tr (IYT)
CNI traded between 115.55 and 121.54 across 20 sessions. The latest close on file is 120.78. EWC traded between 57.81 and 61.73 across 20 sessions. The latest close on file is 60.61.
What the saved facts support for Ishares Tr (IYT)
46 out of 100
“Canadian National Railway (TSX:CNR) Stock Faces A Q3 Earnings Valuation Question” scores 46 out of 100. The score uses 1 sources, and 6 linked companies.