Canadian National Railway Company(CNI) is scheduled to report third-quarter 2024 results on Oct. 22, after market close. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar. CNI has a disappointing earnings surprise history, having lagged the Zacks Consensus Estimate in two of the preceding four quarters (surpassed the mark in the remaining two quarters), the average miss being 1.11%. Let's see how things have shaped up for Canadian National this earnings season. CNI's Q3 Expectations T ...

Canadian National Railway's (CNI) tech-savvy initiatives are boosting the company's operational efficiency. Efforts to expand its fleet are also encouraging. However, the economic downturn does not bode well for CNI. Factors Favoring CNI CNI's proactive initiatives toward technology advancement demonstrate a strong commitment to improving operational efficiency and safety. This year, the company is deploying its fourth-generation Autonomous Track Inspection Program, which uses ground-penetrating radar to pr ...

KIRKLAND, Wash., Oct. 02, 2024 (GLOBE NEWSWIRE) -- Cascade Investment, L.L.C. ("Cascade") announced today that it has disposed of 5,994,691 common shares ("Common Shares") of Canadian National Railway Company ("CN") by transferring ownership and control of the Common Shares in a private transaction for no consideration. Following the disposition, Cascade owns 3,539,451 Common Shares, representing approximately 0.56% of the issued and outstanding Common Shares. Immediately prior to the disposition, Cascade o ...

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MONTREAL, Sept. 23, 2024 (GLOBE NEWSWIRE) -- CN (TSX: CNR) (NYSE: CNI) has launched its annual See Tracks? Think Train® Week campaign to raise awareness about the vital importance of rail safety. The Company joins communities across North America to raise awareness of the danger of dangerous behaviors around railway tracks and property. From September 23-29, CN Police Services, along with many other CN employees, will actively share important rail safety messages in communities across CN's network to help p ...

Canadian National Railway Company (CNI) adjusted the outlook for the current year following labor disruptions that threatened to cripple the economy of Canada. The railroad operator has, however, resumed normal operations following the crisis. All essential parameters, including car velocity, train speed and dwell, have recovered following the labor stoppage. Apart from labor woes, Alberta wildfires and weaker-thanexpected demand for forest products and metals compelled CNI's management to adjust its 2024 o ...

MONTREAL, Sept. 10, 2024 (GLOBE NEWSWIRE) -- CN (TSX: CNR) (NYSE: CNI) announced today that its operations have recovered following several months of labor uncertainty as well as a complete shutdown of its Canadian network, and that it is adjusting its 2024 guidance and long-term financial outlook. CN remains focused on the disciplined execution of its scheduled operating plan, growing volumes more than the economy as its company specific growth opportunities come online, pricing above rail inflation, and i ...

Prospects of Zacks Transportation - Rail industry's participants are being weighed down by challenges like inflation-induced elevated interest rates, concerns pertaining to supply-chain disruptions and the slowdown of economic growth. Most industry players are looking to drive their bottom line amid the headwinds through cost reduction. Image Source: Zacks Investment Research Partly due to these headwinds, the industry, despite gaining 13.8% over the past year, has underperformed the S&P 500 Index's 19.9% a ...

Group 1: Company Performance - Canadian National's (CNI) top line is bolstered by strong segmental performance, with overall revenue ton miles (RTMs) growing by 13% year over year in Q2 2024, driven by a 19% rise in international intermodal and a 12% rise in petroleum and chemicals [2][5] - The company is expanding its fleet, with the 2024-2025 Grain Plan including the delivery of 750 new high-efficiency grain hopper cars and a focus on scheduled railroading and safety improvements [3][4] - CNI declared a quarterly dividend of C$0.8450 per share in Q2 2024 and repurchased 3.5 million common shares for $597 million, with plans to repurchase up to 32 million shares between Feb. 1, 2024, and Jan. 31, 2025 [4] Group 2: Operating Expenses and Liquidity - Total operating expenses increased by 12.8% year over year in Q2 2024, primarily due to a 13.8% rise in labor costs, which account for 30.7% of total operating expenses [5][6] - Fuel costs, comprising 19.7% of total operating expenses, jumped by 12.6% year over year, contributing to the overall increase in operating expenses [6] - CNI's liquidity position is concerning, with a current ratio of 0.63, indicating potential difficulties in meeting short-term obligations [6] Group 3: Market Performance - Shares of CNI have declined by 6.6% year to date, contrasting with the industry's growth of 0.5% during the same period [6]

madsci Why I am invested in Canadian National Canadian National Railway (NYSE:CNI) remains my favorite stock among Class 1 railroads. Its three-coastal network and its balanced exposure to several commodities are not always correlated. This, coupled with a conservative balance sheet and a management team that is careful not to increase leverage excessively, have made it stand out as the most convincing stock in the industry in the past two years. CNI 2024 Investor Presentation Let me give you an example. Wh ...