Canadian National Railway boosted its full-year outlook, citing firmer freight demand and shifting economic conditions, as the railroad posted higher profit and revenue in the second quarter. The Canadian railroad on Friday upgraded its forecasts for the year, noting shifts in freight expectations and broader economic conditions.

CN Rail now expects low-single-digit growth in revenue ton miles, the rail industry's measure of freight volume, due to higher demand. That's up from a previous projection for flat volumes.

CN Rail also revised its currency outlook, assuming the Canadian dollar will average about 71 U.S. cents in 2026, weaker than the 73 U.S. cents it projected in April.

At the same time, the company cautioned that volatile macroeconomic conditions, geopolitical conflicts and global trade tensions pose heightened risks to freight demand.