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Canadian National Railway Company - CNI STOCK NEWS

Welcome to our dedicated page for Canadian National Railway Company news (Ticker: CNI), a resource for investors and traders seeking the latest updates and insights on Canadian National Railway Company 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.

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CN (TSX: CNR) (NYSE: CNI) has announced its third-quarter 2024 dividend. The company's Board of Directors has approved a quarterly dividend of C$0.8450 per common share. This dividend will be paid on September 27, 2024, to shareholders of record at the close of business on September 6, 2024. The announcement demonstrates CN's commitment to providing regular returns to its shareholders, maintaining its dividend payment schedule.

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CN (TSX: CNR) (NYSE: CNI) reported its Q2 2024 financial results, showing revenue growth of 7% to C$4,329 million. However, operating income decreased by 3% to C$1,558 million, while adjusted operating income increased by 2% to C$1,636 million. The company's operating ratio increased by 3.4 points to 64.0%, and diluted EPS decreased by 1% to C$1.75.

CN updated its 2024 guidance, now expecting adjusted diluted EPS growth in the mid to high single-digit range, down from the previous expectation of 10%. The company maintains its capital investment plan of C$3.5 billion and now targets an adjusted ROIC of approximately 15%. CN reiterates its long-term financial outlook, aiming for 10-15% compounded annual diluted EPS growth from 2024-2026.

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CN (TSX: CNR) (NYSE: CNI) is set to release its second-quarter 2024 financial and operating results after the market close today, July 23, 2024. The company will hold a conference call at 4:30 p.m. Eastern Time to discuss the results and the railway's outlook. Tracy Robinson, CN President and CEO, will lead the call. Interested parties can participate via telephone or webcast. The presentation will be live-streamed, and slides will be available on CN's website. A webcast replay will be provided after the call concludes.

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Canadian National Railway (TSX: CNR, NYSE: CNI) will release its second-quarter 2024 financial and operating results on July 23, 2024, after market close. A conference call to discuss the results and the company's outlook, led by President and CEO Tracy Robinson, will commence at 4:30 p.m. Eastern Time. Participants can join via phone or through a live webcast available on CN's investor website. The webcast replay will be accessible after the call concludes.

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Canadian National Railway (CN) announced that its net-zero greenhouse gas (GHG) emissions target by 2050 has been validated by the Science Based Targets initiative (SBTi). CN's 2023 Sustainability Data Supplement highlights its progress and targets, including a 90% reduction in absolute Scope 1, 2, and 3 GHG emissions by 2050 and a 43% reduction in Scope 1 and 2 GHG emissions intensity by 2030. Despite slight increases in GHG emissions and intensity in 2023, CN has made notable progress towards its goals. Additionally, CN diverted 94% of operational waste from landfills and planted nearly 113,000 trees. Social and governance targets include reducing personal and operational safety incidents and increasing diversity. CN was also named to Corporate Knights’ Best 50 Corporate Citizens list for the 16th consecutive year. More details can be found on CN's website.

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CN (TSX: CNR) (NYSE: CNI) has offered binding arbitration to the Teamsters Canada Rail Conference (TCRC) to resolve their ongoing labor dispute. Despite CN's efforts to modernize the collective agreement to improve work-life balance and productivity, the TCRC has rejected all proposals, including a simplified offer made in May 2023. The dispute centers around scheduling and hourly wages versus the current miles-based pay system. CN's offers comply with government guidelines on work and rest periods. Meanwhile, the Canada Industrial Relations Board (CIRB) has extended the deadline for submissions related to the Minister of Labour’s request for clarity on work stoppage activities until June 14, 2024, delaying any potential strike or lockout until mid to late July 2024.

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CN (TSX: CNR, NYSE: CNI) has introduced two new firefighting trains, Neptune and Trident, to its fire mitigation and suppression fleet, joining the existing Poseidon train. This addition aims to combat wildfires across Canada, ensuring the safety and security of goods on CN's network. These purpose-built trains are operated by specially trained staff and are meant to protect the supply chain from the impacts of wildfires, which have become more frequent due to extreme weather. CN collaborates with various wildfire management authorities and Indigenous communities to deploy these assets effectively.

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Tracy Robinson, CEO, and Ghislain Houle, CFO of CN (TSX: CNR, NYSE: CNI), are scheduled to speak at Bernstein’s 40th Annual Strategic Decisions Conference on May 31, 2024, at 9:00 a.m. ET. The event will feature a live webcast accessible through CN's investor website, with a replay available afterward. This provides an opportunity for investors and stakeholders to gain insights into CN's strategic direction and financial health.

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CN (CNI) has presented a new offer to the Teamsters Canada Rail Conference (TCRC) aiming to prevent work stoppages and stabilize Canada's supply chains. This offer, compliant with the Federal Government’s Duty and Rest Period Rules (DRPR), focuses on employee safety, predictable scheduling, work-life balance, and increased compensation. The revised offer includes:

- Scheduled days off.

- Higher pay for work over 10 hours per shift, capped at 12 hours.

- Wage increases of 3% in 2024 and 2.5% in 2025.

- Maintenance of existing paid leave, medical leave, vacation, and statutory holidays.

Employees must self-assess their fitness for duty through scientific fatigue evaluations, and cannot work more than 60 hours per 7-day period or 192 hours per 28-day period, with a mandatory 'reset break' every 7 days.

In 2023, the average conductor earned $121,000, while the average locomotive engineer earned $150,000. The offer aims to enhance employee satisfaction and operational predictability.

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CN announced that a new four-year collective agreement between CNTL, its subsidiary for first and last mile trucking, and Unifor-affiliated owner-operators has been ratified. This agreement impacts around 750 owner-operators in Canada and will be in effect until December 31, 2027. The agreement was achieved through collaborative negotiations and aims to support business needs and ensure the seamless delivery of container pickups and deliveries.

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FAQ

What is the main business of Canadian National Railway Company?

Canadian National Railway Company transports a variety of goods including intermodal containers, petroleum, chemicals, grain, fertilizers, forest products, metals, minerals, automotive shipments, and coal.

Where is Canadian National Railway headquartered?

Canadian National Railway is headquartered in Montreal, Quebec, Canada.

What recent financial performance has CN reported?

In 2023, CN reported revenues of CAD 16.8 billion.

What are CN's major revenue sources?

Major revenue sources for CN include intermodal containers, petroleum and chemicals, grain and fertilizers, forest products, metals and minerals, automotive shipments, and coal.

What recent developments have been announced by CN?

CN recently announced the relocation of its head office to Kevric’s redevelopment in downtown Montreal.

What regions does CN's railway network cover?

CN's railway network spans across Canada from coast to coast and extends through the Midwest and Southern United States to the Gulf of Mexico.

What is CN’s commitment to sustainability?

CN focuses on sustainability through operational excellence, emphasizing safety, efficiency, and environmental responsibility in its operations.

Who are some of CN's key partners?

Key partners of CN include Target Steel Inc. and the Michigan Department of Transportation.

How does CN contribute to the supply chain?

CN plays a crucial role in the supply chain by providing reliable and comprehensive freight services across North America.

What types of updates does CN provide in its latest news?

CN's latest news includes updates on financial performance, strategic initiatives, railroad statistics, and non-GAAP measures highlighting the company's operational and financial health.

Canadian National Railway Company

NYSE:CNI

CNI Rankings

CNI Stock Data

73.68B
636.20M
1.69%
79.12%
0.97%
Line-Haul Railroads
Transportation and Warehousing
Link
United States of America
Montreal