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 (CN), listed on the NYSE under the symbol CNI, is a North American line-haul railroad that regularly issues news about its operations, financial performance, and role in the transportation and warehousing sector. CN reports that it moves more than 300 million tons of natural resources, manufactured products, and finished goods each year over a nearly 20,000-mile rail network connecting Canada’s Eastern and Western coasts with the U.S. Midwest and the U.S. Gulf Coast.
News about CN often highlights operational milestones, such as record grain movement from Western Canada. The company has announced multiple consecutive record months and record years for grain shipments, underscoring the importance of agricultural traffic on its network. These updates provide insight into how CN collaborates with farmers and supply chain partners to move large grain volumes safely and efficiently.
CN’s news flow also includes corporate and financial items such as dividend declarations, upcoming quarterly and full-year results announcements, and participation in investor conferences. The company regularly communicates details of conference calls and webcasts where senior officers review financial and operating results and discuss the railway’s outlook.
Regulatory and competitive developments are another focus of CN’s news. The company has issued statements and filed motions with the U.S. Surface Transportation Board related to a proposed merger between Union Pacific and Norfolk Southern, raising concerns about competition and the completeness of the merger application. In addition, CN publishes stories about its community involvement, including its Railroaders in the Community program and corporate giving pillars of People, Safety, and Environment.
Investors and observers who follow CNI news can use this stream of announcements to monitor CN’s operational performance, regulatory positions, community initiatives, and key financial communications.
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CN has committed to achieving net-zero carbon emissions by 2050, aligning with the Science Based Targets initiative criteria. The company is the first North American railroad to formally adopt such a target, participating in the Business Ambition for 1.5°C and the UN Race To Zero campaign. In 2020, CN achieved record locomotive fuel efficiency, exceeding 4% better than 2019, and has reduced greenhouse gas emissions intensity by 43% since 1993. The commitment supports the Paris Agreement and aims to enhance CN's sustainable practices.
CN will participate in the 2021 Scotiabank Virtual Transportation and Industrials Conference on November 16, 2021, at 9:55 a.m. ET. Executives, including CEO JJ Ruest and CFO Ghislain Houle, will address attendees. Investors can access the live webcast through the company’s website, with a replay available post-event. As a leading North American transportation provider, CN facilitates the movement of over 300 million tons of goods annually, contributing to economic growth and community prosperity since 1919.
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CN announced a letter directed at shareholders ahead of the Special Meeting scheduled for March 22, 2022, responding to claims made by TCI. The letter emphasizes CN's commitment to shareholder interests and refutes TCI's allegations, characterizing them as misleading. As a vital transport network, CN manages over 300 million tons of goods annually, playing a critical role in the North American economy. The letter also highlights the risks associated with forward-looking statements and urges shareholders to consider these factors when evaluating the company’s strategy.
CN Appoints Jo-ann dePass Olsovsky to Board of Directors
On October 27, 2021, CN (CNI) announced the appointment of Jo-ann dePass Olsovsky as an independent director. With over 35 years of experience in technology and the railroad sector, Ms. Olsovsky previously served as Executive VP and CIO at Salesforce and held a leadership role at BNSF Railway. Her vast expertise in digital innovation and operational systems is expected to enhance CN's goals in safety and customer experience. Following her appointment, CN’s Board now comprises 11 directors, with 10 being independent and five women.
On October 19, 2021, TCI Fund Management highlighted the resignation of Canadian National Railway Company's CEO, J.J. Ruest, as a necessary step towards addressing corporate governance concerns. TCI criticized the Board for its previous leadership choices and operational oversight failures, advocating for timely meetings with a prospective new CEO, Jim Vena, who has extensive railway experience. TCI also called for the swift appointment of its independent nominees to the Board. TCI, owning over 5% of CN, continues to push for changes to strengthen governance.
CN announces retirement of CEO Jean-Jacques Ruest
On October 19, 2021, CN (CNI) disclosed that CEO Jean-Jacques Ruest will retire at the end of January 2022 or later, depending on the appointment of a successor. Ruest, who has been with CN for over 25 years and CEO since 2018, led the company through crucial developments, including a merger with KCS and a new strategic plan. A CEO Search Committee has been formed to identify a suitable replacement, collaborating with Korn Ferry for this global search. Ruest expressed confidence in the company’s future stability post-retirement.
CN (CNI) reported strong third-quarter 2021 results, achieving adjusted diluted EPS of C$1.52, a 10% increase, and revenues of C$3.6 billion, up 5% from 2020. Despite a 2% drop in operating income to C$1.34 billion due to costs from the terminated KCS merger, the adjusted operating ratio improved to 59.0%. Year-to-date, free cash flow was C$2.03 billion. CN reaffirmed its 2021 outlook, expecting 10% EPS growth. Challenges included impacts from wildfires and grain volume reductions, while efficiency metrics showed improvements in fuel efficiency and train speed.
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