By Sabela Ojea

Canadian National Railway said profit dropped in the first quarter after posting a decline in revenue.

The Montreal-based rail operator on Tuesday posted a profit of 1.1 billion Canadian dollars ($802.9 million), or C$1.72 a share, compared with C$1.22 billion, or C$1.82 a share, a year earlier. Analysts polled by FactSet expected per-share earnings of C$1.71.

Revenue fell 1.5% to C$4.25 billion, missing analysts expectations of C$4.28 billion, according to FactSet.

Regarding its outlook, the company said it is seeing the expected improvements in the economy.

"Our CN-specific growth opportunities are materializing," Chief Executive Tracy Robinson said.

Write to Sabela Ojea at; @sabelaojeaguix

(END) Dow Jones Newswires

04-23-24 1644ET