Sector Update: Industrials; SNC-Lavalin Renews GTAA Contract, CN Rail Posts Q2 Beat

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Industrial stocks were mixed in afternoon trading, and the S&P/TSX Industrials index was up 1.38%.

Canadian National Railway (CNR.TO): +2.4%

SNC-Lavalin (SNC.TO): -0.3%

Bombardier (BBD-B.TO): -0.5%

Canadian Pacific Railway (CP.TO): +2.1%

Dragonwave (DWI.TO): -3.6%

In corporate news, SNC-Lavalin Tuesday reported that the Greater Toronto Airport Authority ( GTAA ) has renewed its contract with the engineering and construction company for the operation and maintenance of GTAA's co-generation and central utilities plant for another five years, with the possibility of one two-year extension.

SNC-Lavalin designed and built the facility in 2005 and has been the power plant's operator since then.

Meanwhile, CN Rail Monday reported second quarter net income of C$847 million, or C$1.03 per diluted share, compared with net income of C$717 million, or C$0.84 per diluted share, for the year-earlier quarter. This beat forecasts for EPS of near C$1. CN's key operating ratio for Q2-2014 improved by 1.3 points to 59.6% from 60.9% for the year-earlier quarter.

Operating income for the second-quarter of 2014 increased 21% to C$1,258 million. Second-quarter 2014 revenues increased 17% to C$3,116 million, revenue ton-miles grew by 14%, and carloadings increased 11%.

Free cash flow for the first half of 2014 was C$1,270 million, compared with C$788 million.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

Referenced Stocks: GTAA

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