CN will webcast the presentation live and furnish slides supporting the officers' remarks via the Investors section of its website at www.cn.ca/en/investors. A webcast replay will be available after the call ends. MONTREAL, July 23, 2024 (GLOBE NEWSWIRE) -- CN (TSX:CNR) (NYSE:CNI) will issue its secondquarter 2024 financial and operating results after the market close. Parties wishing to participate via telephone may dial 1-800-715-9871 (Canada/U.S.), or 1-647-932-3411 (International), using 2135176 as the ...

Core Viewpoint - Canadian National Railway (CNI) is facing challenges in its earnings performance, with a history of mixed earnings surprises and a decline in freight revenues due to excess capacity and supply chain issues [1][2][10]. Financial Performance - CNI's first-quarter 2024 revenues were reported at $3.15 billion (C$4.25 billion), missing the Zacks Consensus Estimate of $3.16 billion, reflecting a decrease of 1.19% primarily due to lower freight revenue per RTM, while volumes remained flat [5][11]. - The earnings for the first quarter of 2024 were $1.28 per share (C$1.72), surpassing the Zacks Consensus Estimate of $1.27, but this represented a year-over-year decline of 5.19% [11]. Future Outlook - The Zacks Consensus Estimate for CNI's upcoming second-quarter earnings has been revised downward by 1.39% to $1.42 per share, with revenue expectations set at $3.23 billion, indicating a growth of 6.93% from the previous year [8]. - Freight revenues are estimated at $4.1 billion, reflecting a 0.5% decrease compared to the first quarter of 2024, with expected declines in the Petroleum and Chemicals, Metals & Minerals, and Forest Products segments by 6%, 3.5%, and 1.7% respectively [9]. Cost Management - To counteract the revenue decline from the freight downturn, CNI is focusing on cost-cutting measures, with an estimated 4.2% decline in adjusted operating expenses compared to the first quarter of 2024 [3].

Canadian National (CNI) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price cha ...

Core Viewpoint - Canadian National Railway Company (CNI) is highlighted as a top choice for dividend-focused investors due to its consistent performance, long dividend growth streak, and stability during market volatility [14][18]. Company Overview - Canadian National operates the largest rail network in Canada and one of the largest in the U.S., covering nearly 20,000 miles and providing essential services with a diversified cargo base [3]. - The company has an industry-leading operating ratio, although it saw a slight increase in Q1 2024 [3]. Financial Metrics - Revenue growth rates for Canadian National are as follows: - 10-Year CAGR: 4% - 5-Year CAGR: 3% - 3-Year CAGR: 7% - Year-over-Year: -5% [6]. - Profitability metrics indicate stable performance: - ROE (10Y avg.): 20% - ROIC (10Y avg.): 14% [6]. - Canadian National's P/E Non-GAAP (TTM) is 22.4, which is below its 5-Year average of 23.2, indicating potential undervaluation [7][12]. Dividend Analysis - Canadian National has a 27-year streak of dividend growth, with a forward yield of 2.08% and a 5-Year CAGR of 9.98% [10]. - The payout ratio stands at 44.6%, reflecting a balanced approach to returning capital to shareholders [10]. Valuation and Price Target - The current price of Canadian National is $120.00, with an estimated EPS of $5.83, suggesting a fair value of $131.51, indicating it is approximately 8.75% undervalued [9][12][17]. - Analysts have a price target of $134.62, suggesting a potential upside of around 12% [12]. Investment Thesis - Canadian National is positioned as a solid option for dividend-focused investors, outperforming peers like Union Pacific and CSX in terms of stability and dividend growth [14][18].

| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |--------------------------------------------------------------|-------|-------|-------|-------|-------|-------------------------------------------------------|---------|---------|---------|---------| | MEETING DATE 300-325 325-350 350-375 375-400 400-425 425-450 | | | | | | CME FEDWATCH TOOL - CONDITIONAL MEETING PROBABILITIES | 450-475 | 475-500 | 500-525 | 525-550 | | 31.07.2024 | | | | | 0,0% | 0,0% | 0,0% | 0,0% | 6,7% | 93,3% | | 18.0 ...

The Zacks Transportation - Rail industry faces challenges, ranging from inflationary pressures and resultant high interest rates to concerns pertaining to supply-chain disruptions. Despite the challenges surrounding the industry, Canadian National Railway Company (CNI) , Canadian Pacific Kansas City Limited (CP) , CSX Corporation (CSX) and Norfolk Southern Corporation (NSC) appear better placed to tide over the challenges. Declining fuel costs represent a tailwind as far as bottom-line growth is concerned. ...

In 2023, the company's revenue growth was impacted by operational disruptions brought on by adverse climate conditions, including flooding and forest fires. Further, labor strikes at West Coast ports, related to the duty and rest period rules mandated in Canada in May 2023, negatively impacted revenue growth. In the first quarter of 2024, the company's revenues declined by 1.5% Y/Y to $4.249 billion, mainly due to lower freight revenue per RTM (Revenue Ton-Miles). The freight revenue per RTM declined by 1.7 ...

Canadian National's (CNI) efforts to reward its shareholders through dividends and buybacks despite the ongoing economic uncertainty are commendable. However, the freight market downturn is severely impacting the company's performance. Factors Favoring CNI Canadian National increased its quarterly dividend by 7% in January. This is the 28 consecutive year when the company announced a dividend hike. CNI paid quarterly dividends of $0.85 per share, amounting to $540 million in the first quarter of 2024. As of ...

Canadian National: Based in Montreal, Canada, Canadian National is involved in the rail, intermodal, trucking, and marine transportation and logistics business in Canada and the United States. Currently, CNI has a market capitalization of $77.22 billion. Partly due to these headwinds, the industry has declined 6.4% so far this year, underperforming the S&P 500 Index's 7.5% appreciation and a 5.9% loss of the broader Zacks Transportation sector. How to Pick Stocks With Solid Dividend Payouts? 2023, the compa ...

Media Investment Community Jonathan Abecassis Stacy Alderson Director, Public Affairs and Assistant Vice-President Media Relations Investor Relations As the union refused to negotiate substantively on this matter, CN made a simplified offer to the union in May that continued to be aligned with Government guidelines on work and rest and achieved some productivity gains. The union rejected this offer as well. MONTREAL, June 06, 2024 (GLOBE NEWSWIRE) -- CN (TSX:CNR) (NYSE:CNI) today announced that earlier this ...