Core Points - CN launched its annual Rail Safety Week campaign from September 15–19, 2025, to raise awareness about the dangers of unsafe behavior around railway tracks and property [1] - Rail safety is emphasized as a shared responsibility, with CN working alongside communities to promote safe practices [3][4] - Statistics indicate over 2,000 crossing accidents and 1,000 trespassing incidents occur annually in North America, with Canada reporting 261 incidents in 2024, leading to 68 fatalities and 58 serious injuries [2] Company Initiatives - CN Police Services collaborates with cities, towns, and Indigenous communities to highlight the risks associated with trespassing and ignoring signals at crossings [1][5] - In 2024, more than 376 municipalities recognized Rail Safety Week through formal resolutions and proclamations, showcasing CN's long-standing commitment to rail safety [3] - CN Police Services aims to promote safe behaviors and increase awareness through educational initiatives and targeted operations [5] Community Engagement - The campaign invites community partners to join in spreading the message that rail safety is crucial and that collective efforts can make a difference [4] - CN Police Services responds to hundreds of incidents annually across its network, which includes eight Canadian provinces and 16 U.S. states [5]

Core Viewpoint - CN has launched its annual See Tracks? Think Train® Week campaign to raise awareness about the dangers of unsafe behavior around railway tracks and property, emphasizing the importance of community involvement in rail safety [1][4]. Group 1: Campaign Overview - The campaign runs from September 15–19, 2025, involving CN Police and employees collaborating with various communities across North America [1]. - The initiative aims to highlight the risks associated with trespassing and ignoring signals at crossings, which can lead to severe consequences [1]. Group 2: Statistics and Impact - North America experiences over 2,000 crossing accidents and 1,000 trespassing incidents annually, with the US alone reporting 2,252 incidents in 2024, resulting in 268 fatalities and 749 serious injuries [2]. - These statistics underline the urgent need for ongoing education and awareness regarding rail safety [2]. Group 3: Community Engagement - In 2024, more than 376 municipalities recognized See Tracks? Think Train® Week through formal resolutions and proclamations, showcasing the campaign's community impact [3]. - CN emphasizes that rail safety is a shared responsibility, encouraging collective efforts to promote safe practices around railways [3]. Group 4: CN Police Initiatives - CN Police Services respond to numerous incidents across CN's network, which spans eight Canadian provinces and 16 U.S. states, and they conduct rail safety presentations to various community groups [5]. - The focus of CNPS is on strategic educational initiatives and targeted operations to enhance awareness and promote safe behaviors [5].

Core Viewpoint - CN has launched its annual See Tracks? Think Train® Week campaign to raise awareness about the dangers of unsafe behavior around railway tracks and property [1][2]. Group 1: Campaign Details - The campaign runs from September 15–19, 2025, involving CN Police and employees partnering with various communities across North America to highlight the risks of trespassing and ignoring signals at crossings [2]. - In 2024, over 376 municipalities recognized See Tracks? Think Train® Week through formal resolutions and proclamations, demonstrating community engagement in rail safety [4]. Group 2: Statistics and Impact - North America experiences over 2,000 crossing accidents and 1,000 trespassing incidents annually, with the US alone recording 2,252 incidents in 2024, leading to 268 fatalities and 749 serious injuries [3]. - The statistics emphasize the urgent need for ongoing education and awareness regarding rail safety [3]. Group 3: Shared Responsibility - Rail safety is described as a shared responsibility, with CN emphasizing the importance of small safe choices made daily by individuals to enhance community safety [3][4]. - CN encourages community partners to join in spreading the message that rail safety is crucial and that collective efforts can lead to significant improvements [5]. Group 4: CN Police Services - CN Police Services respond to numerous incidents across CN's network, which includes eight Canadian provinces and 16 U.S. states, and they conduct educational initiatives to promote safe behaviors [6]. - The commitment of CN Police Services is to make CN the safest railroad in North America through strategic educational efforts and targeted operations [6].

Group 1 - CN announced a partnership with the New Orleans Saints for a safety initiative during See Tracks? Think Train® Week from September 15 to 19 [1][2] - The initiative involves CN Police officers and New Orleans Saints members visiting schools to promote railway safety awareness among students [2][3] - The collaboration aims to empower youth to become safety leaders in their communities and reduce unsafe behaviors around railway properties [3] Group 2 - CN operates a nearly 20,000-mile rail network, transporting over 300 million tons of goods annually across North America [4] - The company has been contributing to sustainable trade and community prosperity since its establishment in 1919 [4]

Core Insights - Canadian National Railway (CNI) and CSX have signed a Memorandum of Understanding to launch a new intermodal rail service into Nashville, TN, enhancing freight connectivity across North America [1][9] - The service will transport international containers from Canada's West Coast through Memphis to Nashville, replacing the current trucking leg with an all-rail solution that improves delivery speed, reliability, and sustainability [2][3] Service Details - The new collaboration provides customers with a faster, greener, and more reliable freight movement option, reducing highway truck traffic and emissions while enhancing supply chain resilience [3][4] - This initiative builds on the companies' successful interline partnerships, particularly their collaboration serving East Coast ports since 2019, thereby boosting network efficiency and customer options [4][9] Market Performance - Despite the positive developments, CNI's share price has decreased by 20.9% year over year, underperforming the industry average decline of 9.6% [5] - CNI currently holds a Zacks Rank of 4 (Sell), indicating a less favorable outlook in the market [7] Investment Considerations - Investors in the Zacks Transportation industry may consider LATAM Airlines Group (LTM) and SkyWest (SKYW), both of which have strong growth expectations and favorable Zacks Ranks [10][12]

Group 1: Canadian National Railway Company (CNI) - Jim Cramer recommended buying Canadian National Railway Company, stating it is "way too cheap" [1] - Canadian National Railway shares gained 1.6% to settle at $93.93 on Thursday [4] Group 2: MP Materials Corp. (MP) - Cramer advised against purchasing more shares of MP Materials, suggesting investors are fine with their current holdings [1] - DA Davidson analyst Matt Summerville maintained a Buy rating on MP Materials and raised the price target from $32 to $82 [1] - MP Materials shares gained 0.9% to settle at $63.03 on Thursday [4] Group 3: Resideo Technologies, Inc. (REZI) - Cramer described Resideo Technologies as "interesting, even up here" [2] - Morgan Stanley analyst Erik Woodring upgraded Resideo Technologies from Equal-Weight to Overweight and raised the price target from $24 to $35 [2] - Resideo Technologies shares rose 1.4% to close at $36.71 [4]

Core Insights - The 13th Annual Laguna Conference is focused on airlines and transportation, indicating a significant interest in these sectors [1] - Canadian National Railroad is highlighted as a top pick in the North American rail space, suggesting strong confidence in its performance [2] Company Highlights - Tracy Robinson, CEO of Canadian National Railroad, and Ghislain Houle, CFO, are present at the conference, indicating active engagement with investors and stakeholders [2]

PresentationRavi ShankerMD & Lead Analyst Great. Welcome back to day 2 of the 13th Annual Laguna Conference, and we have a whole day of airlines and transportation content today. They say a little rain brings good luck. And so we're hoping for some great updates from all the companies over the course of the day to day. So very happy to start this morning with Canadian National Railroad, our top pick in the North American rail space. I'm very happy to welcome back Laguna, CEO, Tracy Robinson, and CFO, Ghisla ...

Summary of Canadian National Railway Company (CNI) FY Conference Call Company Overview - **Company**: Canadian National Railway Company (NYSE:CNI) - **Date of Conference**: September 11, 2025 - **Key Speakers**: CEO Tracy Robinson, CFO Ghislain Houle Industry Insights - **Macroeconomic Environment**: The current macroeconomic environment is challenging, impacting trade flows and volumes, which are flat year-over-year as of the end of Q3 [5][10] - **Volume Performance**: The company expects to finish the year ahead of last year, with domestic intermodal volumes up 26% in the current quarter [7][10] - **Bulk Business Strength**: The bulk segment, particularly grain and fertilizer, is performing well, with strong grain crops expected in Canada and the U.S. [5][6] - **Intermodal Challenges**: The intermodal portfolio has faced challenges due to tariffs, but there was a strong performance in July-August at Canadian ports, achieving an annualized pace of 900,000 to 1 million TEUs [6][10] - **Forest Products Market**: The forest products business is struggling due to low lumber prices and tariffs, with no expected inflection in the near term [7][8][23] Financial Performance - **Grain Crop Forecast**: Canadian grain production is projected at 75 million metric tons, slightly above the three-year average of 73 million [17][21] - **Lumber Prices**: Lumber prices have dropped significantly from $1,600 per thousand board feet post-COVID to around $400-$450, causing financial strain on producers [27] - **Operating Ratio (OR) Outlook**: The company does not expect to achieve a 200 basis point improvement in OR due to a mix of lower volumes and challenges in the forest products sector [28][30] Strategic Initiatives - **Agility in Operations**: The company has focused on operational agility, allowing for quick adjustments in response to market conditions, including furloughing and recalling staff as needed [12][17][13] - **Customer Relationships**: Emphasis on strong customer service and collaboration to identify new market opportunities [14][35] - **Technology Investments**: Investments in technology focus on safety, operational efficiency, and automation, with significant improvements in safety metrics over the past decade [66][67] Future Outlook - **Volatility Management**: The company acknowledges the ongoing volatility in the market and plans to manage costs tightly while seeking growth opportunities [10][64] - **Capital Expenditure (CapEx)**: CapEx is being strategically allocated based on maintenance needs and capacity expansion, with a focus on productivity improvements [72][74] - **Merger Considerations**: The company is closely monitoring proposed rail mergers in the U.S. and is prepared to respond to potential impacts on competition and service offerings [39][44][46] Key Takeaways - **Market Challenges**: The company is navigating a complex environment with mixed performance across different segments, particularly in bulk and forest products [5][10][23] - **Operational Resilience**: Strong operational practices and customer relationships are seen as critical to navigating current challenges and seizing future opportunities [10][14][35] - **Long-term Strategy**: The focus remains on maintaining a lean operation while adapting to market changes and ensuring service excellence for customers [79][80]

Core Message - CN is launching its annual public awareness campaign, See Tracks? Think Train® Week, from September 15-19, 2025, to emphasize the importance of safety near rail crossings and the dangers of trespassing on railway property [1][3]. Group 1: Campaign Activities - Uniformed CN Police officers will be available for interviews and will participate in community events throughout the campaign week [2]. - CN is partnering with Operation Lifesaver and local authorities to deliver various online and in-person activities aimed at promoting safe practices and raising awareness about rail crossing safety [4]. Group 2: Safety Importance - Preventable accidents occur annually at rail crossings, and CN emphasizes that safety is a shared responsibility among schools, communities, and media partners [3]. - CN Police Services respond to hundreds of events across Canada and the U.S., focusing on protecting CN property and delivering rail safety presentations to various organizations [5]. Group 3: Commitment to Safety - CN continues to invest in rail safety initiatives and encourages community participation in See Tracks? Think Train® Week activities [4]. - The goal of CN Police Services is to promote safe behaviors and increase awareness of rail safety, aiming to make CN the safest railroad in North America [5].