Canadian National Railway Stock Price, News & Analysis

CN (TSX: CNR) (NYSE: CNI) has initiated a lockout of employees represented by the Teamsters Canada Rail Conference (TCRC) as of Aug. 22, 2024, at 00:01 ET. This action follows the union's non-response to CN's latest offer, which aimed to improve wages and align work hours with federal rest mandates. The offer included a pilot project for hourly rates and scheduled shifts on part of the network.

Over nine months of negotiations, CN proposed offers with better pay, improved rest, and more predictable schedules. Currently, conductors and locomotive engineers work approximately 160 days a year, with average earnings in 2023 of about $121,000 for conductors and $150,000 for locomotive engineers, excluding benefits. CN urges the Teamsters to engage in negotiations with urgency, emphasizing the importance of reaching a deal beneficial for employees, the company, and the economy.

CN (TSX: CNR) (NYSE: CNI) has issued a lockout notice to the Teamsters Canada Rail Conference (TCRC) for Aug. 22 at 00:01 ET, as negotiations remain at an impasse. CN is continuing a phased shutdown of its Canadian rail network for safety reasons. The company has made several offers since January, including improved wages (up to $75/hour for Locomotive Engineers and $65/hour for Conductors), job security, and work-life balance. However, the TCRC has rejected all proposals, including an offer for binding arbitration.

Currently, conductors and locomotive engineers work approximately 160 days a year. In 2023, average earnings were about $121,000 for conductors and $150,000 for locomotive engineers, excluding benefits. CN emphasizes the need for a resolution to avoid disrupting supply chains and the Canadian economy.

CN (TSX: CNR) (NYSE: CNI) has formally requested government intervention under section 107 of the Canada Labour Code due to a lack of progress in negotiations with the Teamsters Canada Rail Conference (TCRC). The company is seeking binding arbitration to resolve the labour conflict and protect Canada's economy from prolonged uncertainty.

CN warns of a potential phased network shutdown starting August 22nd if no progress is made. The company has made four offers to the TCRC since January, including proposals on wages, rest, and labour availability, all of which were rejected. CN emphasizes the need for predictability in supply chains and highlights the potential impact on consumers and workers across Canada.

CN (TSX: CNR) (NYSE: CNI) has released its 2024-2025 Grain Plan, building on last year's strong performance. The plan outlines several new initiatives, including:

• Delivery of 750 new high-efficiency grain hopper cars
• Continued focus on scheduled railroading
• Deployment of new firefighting equipment
• Use of new technologies for improved safety

CN is prioritizing employee engagement, recruiting, and training to address labour market challenges. The plan was developed through consultation with key stakeholders, including the CN Agricultural Advisory Council. It assesses CN's ability to move anticipated grain levels and outlines steps to ensure safe and efficient transportation for farmers, customers, and supply chain partners.

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.

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.

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.

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.

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.