CN Proud to be Supporting Agri-Food Supply Chain as Company Sets New Grain Records

Rhea-AI Summary

CN reported strong performance in grain movement with 6.59 million metric tonnes (MMT) moved in Q1 2020, marking its second-best result. The company achieved a record 2.73 MMT in April, surpassing last year's figure and exceeding the three-year average of 2.55 MMT. The cumulative total for the crop year reached 21.55 MMT, with 20.7 MMT from Western Canada. CN maintained a 51% market share in Canadian grain rail shipments during Q1, demonstrating resilience amid challenging conditions. CN's extensive rail network supports the transport of over C$250 billion worth of goods annually.

Positive

• Achieved second-best Q1 grain movement at 6.59 MMT.
• Set April record with 2.73 MMT, exceeding last year and three-year average.
• Cumulative total for the crop year is 21.55 MMT, with 20.7 MMT from Western Canada.
• Maintained 51% market share in Canadian grain rail shipments in Q1.

Negative

• None.

MONTREAL, May 05, 2020 (GLOBE NEWSWIRE) -- CN (TSX: CNR) (NYSE: CNI) announced that, after having its second best Q1 western Canadian grain movement result with 6.59 million metric tonnes (MMT) moved, the Company moved 2.73 MMT in April, exceeding its previous April record of 2.72 MMT. Movements also exceeded the three-year average of 2.55 MMT for April and March’s record result of 2.65 MMT. 

As the Canadian agricultural sector works to keep up with the increased demand for staple food, CN’s railroaders are determined to keep the goods North-Americans need moving. CN is proud that the cumulative total of all Canadian tonnage moved by CN for the 2019-2020 crop year has reached 21.55 MMT so far with 20.7 MMT coming from Western Canada.

“CN has never slowed down since the beginning of the COVID-19 pandemic,” said JJ Ruest, president and chief executive officer at CN. “Thanks to the efforts of our front line railroaders and our supply-chain partners, CN has proven its resiliency yet again by delivering essential goods, including those of agri-food customers, to consumers across North-America. CN has the capacity ready to enable the eventual recovery of the economy.”

“Despite difficult conditions, CN handled 51% of all Canadian grain rail shipments in the first quarter, including 52% of market share in March,” explained James Cairns, senior vice president rail centric supply chain at CN. “We are in great shape and ready to deliver during the final months of the crop year.”

Movement of all Canadian grain tonnage was 6.86 MMT in Q1 and 2.81 MMT in April.

CN is a true backbone of the economy, transporting more than C$250 billion worth of goods annually for a wide range of business sectors, ranging from resource products to manufactured products to consumer goods, across a rail network of approximately 20,000 route miles spanning Canada and mid-America. CN – Canadian National Railway Company, along with its operating railway subsidiaries – serves the cities and ports of Vancouver and Prince Rupert, B.C., Montreal, Halifax, New Orleans, and Mobile, Ala., and the metropolitan areas of Toronto, Edmonton, Winnipeg, Calgary, Chicago, Memphis, Detroit, Duluth, Minn./Superior, Wis., and Jackson, Miss., with connections to all points in

North America. For more information about CN, visit the Company’s website at www.cn.ca.

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Jonathan Abecassis	Paul Butcher
Senior Manager	Vice-President
Media Relations, CN	Investor Relations, CN
514-399-7956	514-399-0052

FAQ

What was CN's grain movement in Q1 2020?

CN moved 6.59 million metric tonnes (MMT) in Q1 2020, its second-best result.

How much grain did CN move in April 2020?

In April 2020, CN moved 2.73 MMT of grain, surpassing the previous record of 2.72 MMT.

What is CN's market share in Canadian grain rail shipments?

CN handled 51% of all Canadian grain rail shipments in Q1 2020.

What is the cumulative grain tonnage moved by CN for the 2019-2020 crop year?

The cumulative total for the 2019-2020 crop year reached 21.55 MMT.

What is the total value of goods transported by CN annually?

CN transports over C$250 billion worth of goods annually across its rail network.