MONTREAL, Jan. 23, 2024 (GLOBE NEWSWIRE) -- CN (TSX:CNR) (NYSE:CNI) announced today that its Board of Directors has approved a 7% increase in the 2024 dividend on the Company's common shares outstanding as well as the repurchase of its shares under a new normal course issuer bid (Bid). The Bid permits CN to purchase, for cancellation, over a 12-month period up to 32 million common shares, representing 5.63% of the 568,002,080 common shares issued and outstanding of the Company not held by insiders on Januar ...

MONTREAL, Jan. 23, 2024 (GLOBE NEWSWIRE) -- CN (TSX:CNR) (NYSE:CNI) will issue its fourth quarter and full-year 2023 financial and operating results after the market close. CN's senior officers will review the results and the railway's outlook in a conference call starting at 4:30 p.m. Eastern Time today. Tracy Robinson, CN President and Chief Executive Officer, will lead the call. Parties wishing to participate via telephone may dial 1-800-715-9871 (Canada/U.S.), or 1-647-932-3411 (International), using 27 ...

James McGarragle - RBC Capital Markets Brandon Oglenski - Barclays Cherilyn Radbourne - TD Cowen Ravi Shanker - Morgan Stanley Scott Group - Wolfe Research David Vernon - Bernstein Konark Gupta - Scotiabank Fadi Chamoun - BMO Benoit Poirier - Desjardins Steve Hansen - Raymond James Justin Long - Stephens Kevin Chiang - CIBC Operator Good afternoon. My name is Julianne, and I will be your operator today. Welcome to CN's Third Quarter 2023 Financial and Operating Results Conference Call. All participants are ...

David Vernon Thank you. Good afternoon. Thank you. Apologies if you have this out in the press release, I didn't see it. But what is the RTM growth guidance for this year? Maybe more so for the back half year, Q3, Q4, if you give us some clarity about what you're assuming in guidance in terms of RTM growth. But the main question maybe for Doug, Prince Rupert has kind of struggled, underperformed relative to most of the North American ports even prior to all of this kind of BC strike issues and some of the i ...

CN TSX: CNR NYSE: CNI 2023 Key Assumptions CN has made a number of economic and market assumptions in preparing its three-year financial perspective. CN assumes that the North American industrial production will increase by at least two percent CAGR over the next three years. CN assumes continued pricing above rail inflation. CN assumes that the value of the Canadian dollar in U.S. currency will be approximately $0.75 and that the average price of crude oil (West Texas Intermediate) will be approximately US ...

Tracy Robinson Thomas Wadewitz Operator Scott Group Doug MacDonald Scott Group Thank you. Konark Gupta Well, I can't give you an exact percentage, but I can tell you the faster we are, the more capacity we create and our ability to reduce our car fleet has paid a lot of dividend across the operation of this railroad. David Vernon Okay. So good question, Dave. We have the same type of question from our Board today. So listen, on the Canadian side, we're dipping into that area where how much is left in the co ...

Management's Report on Internal Control over Financial Reporting Management is responsible for establishing and maintaining adequate internal control over financial reporting. Internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. Because of its inherent limitations, internal control over finan ...

Canadian National Railway Co (NYSE:CNI) Q4 2022 Earnings Conference Call January 24, 2023 4:30 PM ET Company Participants Paul Butcher - VP, IR Tracy Robinson - President, CEO & Director Edmond Harris - EVP & COO Doug MacDonald - EVP & CMO Ghislain Houle - EVP & CFO Conference Call Participants Christian Wetherbee - Citigroup Konark Gupta - Scotiabank Thomas Wadewitz - UBS Brian Ossenbeck - JPMorgan Chase & Co. Fadi Chamoun - BMO Capital Markets Justin Long - Stephens Inc. Ariel Rosa - Crédit Suisse Brandon ...

Financial Data and Key Metrics Changes - The company expects a 25% increase in EPS for the year, up from the previous expectation of 15% to 20% growth [12] - Free cash flow is projected to be approximately $4.2 billion, an increase from the prior guidance of $3.7 billion to $4 billion [12] - Q3 EPS reached $2.13, a 40% increase on an adjusted basis, representing a quarterly record [16][44] - Operating ratio improved to 57.2%, which is 180 basis points lower than the adjusted operating ratio for the same period last year [44] Business Line Data and Key Metrics Changes - Volumes increased by 5% on an RTM basis, contributing to record revenue of $4.5 billion, a 26% increase over Q3 2021 [14][29] - The petroleum and chemicals segment showed sustained strength, particularly in refined products and crude oil volumes [31] - Intermodal volumes were flat overall, but Halifax saw a 21% increase in volumes [32] Market Data and Key Metrics Changes - Canadian grain volumes are expected to remain strong into next year, with the company recording the second-largest amount of Canadian grain moved in September [30] - Demand for automotive is anticipated to remain strong due to a backlog of 9 to 12 months [34] - Signs of market softness were noted in international intermodal and lumber prices, which have dropped significantly [35][36] Company Strategy and Development Direction - The company is focused on a scheduled operation to improve service consistency and operational efficiency [9][10] - There is a commitment to invest in capacity, including adding locomotives and railcars to accommodate growth opportunities [26][39] - The EMP program partnership aims to enhance intermodal service coverage across North America, potentially increasing volumes by 5% [40] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to manage through potential economic downturns due to a diverse book of business [66] - The company is closely monitoring inflation impacts on costs and is committed to controlling expenses [49] - Preparations for winter operations have been enhanced based on lessons learned from previous years [85] Other Important Information - The company has repurchased nearly 23 million shares for $3.5 billion as of the end of September [45] - The average price of WTI is expected to be approximately $95 per barrel for 2022 [47] Q&A Session Summary Question: Capacity management and potential congestion - Management emphasized the importance of understanding network capacity and selling only what can be delivered [53] Question: Labor cost accrual details - The $47 million accrual was related to a tentative agreement reached with unions in the US [58] Question: Economic downturn preparation - Management highlighted the diverse business portfolio and the ability to adjust resources based on market conditions [66] Question: Yield and pricing outlook - The company is focused on maintaining inflation plus pricing and expects this trend to continue into 2023 [74] Question: Market share recovery opportunities - Management noted that they are still sold out at key intermodal locations and expect to regain market share as supply chains normalize [77] Question: Impact of a stronger US dollar - A stronger US dollar has mixed effects, but overall, it does not significantly impact the company's performance [90]

EN Third Quarter 2022 Financial and Operating Results October 25, 2022 TSX: CNR NYSE: CNI Forward-looking statements Certain statements included in this presentation constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and under Canadian securities laws, including statements based on management's assessment and assumptions and publicly available information with respect to CN. By their nature, forward-looking statements involve risk ...