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.
CN (NYSE: CNI) announced a new normal course issuer bid allowing the repurchase of up to 14 million common shares, equating to 2.36% of shares outstanding as of January 18, 2021. The bid runs from February 1, 2021, to January 31, 2022, reflecting confidence in generating free cash flow and continuing dividend growth. Additionally, a 7% increase in the quarterly dividend to C$0.6150 per share was approved, payable on March 31, 2021. The company previously repurchased nearly 2 million shares in its expiring bid, returning C$225 million to shareholders.
CN (CNI) reported a strong fourth quarter in 2020, with diluted EPS growing by 17% compared to the previous year, reaching C$1.43. Free cash flow hit a record C$3.2 billion. Although full-year revenues decreased by 7% to C$13.8 billion, the company is optimistic about 2021, reinstating guidance for high single-digit EPS growth and targeting C$3.0 to C$3.3 billion in free cash flow. Additionally, CN announced a 7% increase in its quarterly cash dividend and plans to repurchase up to 14 million shares under a new issuer bid.
CN will release its fourth-quarter and full-year 2020 financial results on January 26, 2021, post-market close. A conference call to discuss these results will be led by JJ Ruest, CN's President and CEO, starting at 4:30 p.m. ET. Participants can join by calling 1-866-324-3683 in Canada and the U.S. or 1-509-844-0959 internationally, using passcode 3066867. The call will also be webcast live on CN's investor website, with a replay available afterward. CN is a key transportation leader, moving over 300 million tons of goods annually across North America.
CN (CNI) has been ranked 10th on the Corporate Knights 2021 Global 100 Index for most sustainable corporations globally. This recognition highlights CN's commitment to delivering excellent financial performance while pursuing a zero emissions economy. Notably, CN is the only railway company on this prestigious list. The assessment by Corporate Knights evaluated companies on 24 quantitative key performance indicators across various sustainability areas, demonstrating CN's alignment with international sustainability standards.
CN will release its fourth-quarter and full-year 2020 financial results on January 26, 2021, at 4:01 p.m. ET. A conference call led by CEO JJ Ruest will follow at 4:30 p.m. ET, reviewing results and the company's outlook. Interested participants can join via telephone or webcast, with details provided for dialing in. The railway, a critical player in North America's logistics, operates a 19,500-mile network and has been key to trade since 1919, emphasizing social responsibility and environmental stewardship.
CN (CNI) has achieved a remarkable milestone in the 2020-2021 crop year, moving over 14.5 million metric tonnes of grain via carload, surpassing previous records by nearly 2 million metric tonnes or over 15%. In December alone, 2.84 million metric tonnes were shipped, marking the tenth consecutive month of record shipments. Key to this success are significant investments in infrastructure, including 1,500 new high-capacity grain hopper cars. CN continues to support its supply chain partners amid the challenges posed by the pandemic.
CN Achieves Key Safety Milestone
CN (TSX: CNR, NYSE: CNI) has successfully completed interoperability testing for Positive Train Control (PTC) with tenant railroads across its 35 PTC-equipped subdivisions in the U.S. The Federal Railroad Administration (FRA) has approved CN's PTC system, marking a significant safety advancement aimed at preventing accidents from human errors. This investment underscores CN's commitment to enhancing safety and serves as a foundation for future technology initiatives.
CN announces the launch of the first phase of a logistics park in Mobile, Alabama, in collaboration with Alabama Export Railroad and Ray-Mont Logistics, aimed at bagging and containerizing plastic pellets. Set to open in late 2021, the facility will handle 25,000 Twenty-Foot Equivalent Units annually and enhance export capacity to Asia, Latin America, and Europe. This initiative strengthens CN's supply chain strategies and responds to increasing demand in the U.S. plastic resin market, fostering growth opportunities for its partners and customers.
CN Announces New Inland Distribution Terminal in Wisconsin
On December 10, 2020, CN (CNI) unveiled plans for a new inland terminal in New Richmond, WI, set to open on March 1, 2021. This facility enhances access to CN’s intermodal services for the Minneapolis and Saint Paul metropolitan area, supporting various industries such as automotive, grain, and consumer goods. The terminal aims to facilitate agricultural exports to global markets while reducing highway traffic. CN has invested approximately $970 million in Wisconsin over five years, employing around 1,413 individuals and operating 1,428 railroad miles.
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