Welcome to our dedicated page for Canadian National Railway news (Ticker: CNI), a resource for investors and traders seeking the latest updates and insights on Canadian National Railway stock.
Canadian National Railway Company (CNI) is a premier Class I freight railway headquartered in Montreal, Quebec. With a rail network that extends from Canada's Atlantic and Pacific coasts through the Midwest and Southern United States, CN is a critical link in the North American transportation chain.
In 2023, CN reported impressive revenues of CAD 16.8 billion. The company's diversified portfolio includes hauling intermodal containers (23% of total revenue), petroleum and chemicals (19%), grain and fertilizers (19%), forest products (12%), metals and minerals (12%), automotive shipments (6%), and coal (6%). This broad range of commodities showcases CN's versatility and essential role in various industries.
CN is not just about moving goods; it's about facilitating commerce and driving economic growth. The company is renowned for its commitment to innovation and efficiency in the rail industry. Recent achievements include maintaining robust operations despite global challenges and announcing plans to relocate its head office to Kevric’s latest redevelopment in downtown Montreal.
CN continues to focus on sustainability and operational excellence. The company's latest updates feature selected railroad statistics and non-GAAP measures that highlight its financial health and strategic initiatives aimed at long-term growth. CN's partnerships, such as those with Target Steel Inc. and the Michigan Department of Transportation, further emphasize its integral role in the supply chain.
With a strong emphasis on safety, efficiency, and environmental responsibility, Canadian National Railway remains a cornerstone of North American logistics, crucial for businesses seeking reliable and comprehensive freight services.
On November 28, 2022, CN announced the appointment of Edmond (Ed) Harris as Executive Vice-President and Chief Operating Officer, effective immediately. Harris succeeds Rob Reilly and brings over 40 years of experience in rail operations. His previous roles include leadership at CSX and Canadian Pacific Railway. The company emphasized the importance of Harris’s expertise in advancing operational performance and guiding the next generation of leaders. Forward-looking statements caution that certain assumptions may not materialize due to economic uncertainties.
CN (CNI) will have its Executive Vice-President and CFO, Ghislain Houle, speak at the 2022 Scotiabank Transportation and Industrials Conference on November 15, 2022, at 8:00 a.m. ET. The event will be available for live streaming on the company’s investor website, followed by a replay. CN is a key player in transportation, moving over 300 million tons of goods annually across North America with an extensive rail network that connects Canada’s coasts to the U.S. South.
CN (NYSE: CNI) has joined the UN Global Compact, emphasizing its commitment to responsible business practices. This initiative, the largest corporate sustainability platform globally, aims to align operations with principles regarding human rights, labor, environment, and anti-corruption. CEO Tracy Robinson highlights that sustainability is central to CN's mission to become North America's safest and most carbon-efficient railroad. Moreover, CN safely transports over 300 million tons of goods annually across its extensive rail network, contributing to community prosperity and sustainable trade.
CN achieved a record-breaking performance in October 2022, moving over 3.23 million metric tonnes of grain from Western Canada, surpassing the previous record by over 50,000 metric tonnes. This accomplishment reflects successful supply chain collaboration despite existing challenges. The company highlights the importance of its workforce and its partnerships which enabled efficient grain transport to ports and quick returns of railcars to elevators. This milestone underlines CN's role as a key player in the North American economy.
CN (NYSE: CNI) announced a quarterly dividend of C$0.7325 per common share, set to be paid on December 29, 2022. Shareholders must be on record by the close of business on December 8, 2022. This dividend reflects CN's commitment to returning value to shareholders while maintaining its status as a leader in transportation, connecting Canada and the U.S. through an extensive rail network. The company continues to focus on social responsibility and environmental stewardship in its operations.
CN (TSX: CNR) (NYSE: CNI) reported strong financial results for Q3 2022, with record revenues of C$4,513 million, a 26% increase year-over-year. Adjusted diluted EPS rose 40% to C$2.13, despite a 10% decline in reported EPS due to a prior merger fee. Operating income also hit a record of C$1,932 million, up 44%. The company raised its 2022 EPS growth outlook to approximately 25% and free cash flow expectation to C$4.2 billion. Operational metrics showed improvements in car velocity and fuel efficiency, demonstrating effective service delivery and cost management.
On October 25, 2022, CN (CNI) will release its third-quarter 2022 financial results after market closure. A conference call reviewing these results and the company's outlook is scheduled for 4:30 PM ET, led by Tracy Robinson, the president and CEO. Interested participants can join via telephone or watch the live webcast accessible through CN's Investors section at www.cn.ca/en/investors. A replay of the webcast will be available post-call.
CN is a leading transportation provider, moving over 300 million tons of goods annually across North America.
CN (TSX: CNR) (NYSE: CNI) reported a record week for grain movement, transporting over 806,000 metric tonnes of grain from Western Canada during the week of October 16, surpassing its previous record by more than 50,000 metric tonnes. This follows a strong September where over 2.64 million metric tonnes were moved. Additionally, CN reopened a branch line in Northern Alberta within a week after a bridge fire, ensuring continuity in transporting grain and other products. The company has also released its 2022-2023 Winter Plan to prepare for upcoming seasonal demands.
CN (TSX: CNR) (NYSE: CNI) has successfully concluded its arbitration with the International Brotherhood of Electrical Workers (IBEW), finalizing a collective agreement retroactive to January 1, 2022, lasting until December 31, 2024. Key points include a 3% wage increase for the years 2022, 2023, and 2024. Rob Reilly, COO of CN, expressed satisfaction with the resolution, emphasizing a commitment to operational efficiency and customer relations. The IBEW represents around 750 unionized Signals and Communications employees in CN's Canadian operations.
CN (TSX: CNR) (NYSE: CNI) will release its third-quarter 2022 financial results post-market on October 25, 2022. A conference call to discuss the results and future outlook will occur at 4:30 p.m. ET on the same day, led by CN's President and CEO, Tracy Robinson. Interested participants can join by dialing 1-888-440-2180 (Canada/U.S.) or 1-438-803-0536 (International) with the passcode 5462999. The event will be available via live webcast and will also feature supporting slides on CN's investor website.
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