Investors are cautious as they eagerly wait for the Federal Reserve’s upcoming meeting, scheduled next week. Expansion in both services and manufacturing activity in January, as reported by the S&P Global’s flash U.S. Composite PMI Output Index, higher-than-expected Consumer Price Index (CPI) data, and increased retail sales for December are the major drivers for the Fed’s interest rate decision.The S&P Global’s flash U.S. Composite PMI Output Index, increased to 52.3 this month from 50.9 in December, marki ...

rlesyk Last October, I covered Canadian National Railway Company (NYSE:CNI) in an article that was a part of my compounder series (where I focus on the highest quality, wide moat stocks with reliable and predictable fundamental growth). In that piece, I highlighted my recent purchases of the stock and my belief that shares were attractively valued. In the introduction to that original article, I said: “I'll break down why I believe that CNI shares have the potential to generate a 20% total return CAGR f ...

Canadian National Railway Company (NYSE:CNI) Q4 2023 Earnings Conference Call January 23, 2024 4:30 PM ET Company Participants Stacy Alderson - Assistant Vice President, Investor Relations Tracy Robinson - President and Chief Executive Officer Patrick Whitehead - Executive Vice President and Chief Network Operating Officer Derek Taylor - Executive Vice President and Chief Field Operations Officer Doug MacDonald - Executive Vice President and Chief Marketing Officer Ghislain Houle - Executive Vice President ...

Canadian National (CNI) reported $3.28 billion in revenue for the quarter ended December 2023, representing a year-over-year decline of 1.8%. EPS of $1.48 for the same period compares to $1.55 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $3.25 billion, representing a surprise of +1.14%. The company delivered an EPS surprise of +1.37%, with the consensus EPS estimate being $1.46.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wal ...

Canadian National (CNI) came out with quarterly earnings of $1.48 per share, beating the Zacks Consensus Estimate of $1.46 per share. This compares to earnings of $1.55 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 1.37%. A quarter ago, it was expected that this railroad would post earnings of $1.29 per share when it actually produced earnings of $1.26, delivering a surprise of -2.33%.Over the last four quarters, the company ...

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 ...

Financial Data and Key Metrics Changes - The third quarter EPS was CAD 1.69, which is 21% lower than last year [28][75] - Operating ratio increased to 62%, up 480 basis points year-over-year, but remains competitive within the industry [28][75] - Free cash flow generated was approximately CAD 2.3 billion by the end of September [47] Business Line Data and Key Metrics Changes - Bulk business, including grain, coal, and potash, has shown strong performance throughout the year [25][39] - Merchandise business is firming up, particularly in chemicals and plastics since August [25][36] - Domestic intermodal volumes are holding up well, while international intermodal has been negatively impacted by destocking and port strikes [26][35] Market Data and Key Metrics Changes - Volumes in terms of RTMs decreased by 5% year-over-year, influenced by external disruptions [45] - Canadian grain volumes are expected to remain strong, with a ramp-up noted in September [68] - The pricing environment remains robust, facilitating pricing discussions with customers [35] Company Strategy and Development Direction - The company is focused on optimizing operations and enhancing service levels to drive profitable growth [15][18] - New long-term agreements, such as with AltaGas, are expected to increase LPG export carloads [42] - The company is committed to maintaining a strong balance sheet and shareholder distributions, increasing the share repurchase program budget to CAD 4.5 billion [49][50] Management's Comments on Operating Environment and Future Outlook - Management believes the worst is behind them, expecting a gradual recovery in consumer-related freight demand in 2024 [48] - The company is confident in the structural advantages of Canadian ports and anticipates a return of volumes from U.S. ports [52][53] - Management expressed optimism about the North American economy's resilience and the potential for margin leverage as volumes increase [19][48] Other Important Information - The company faced significant operational challenges due to a two-week port strike and ongoing disruptions from natural disasters [30][31] - Safety metrics showed an increase in reportable injuries, but year-to-date performance remains better than the previous year [32] Q&A Session Summary Question: Concerns about TEU trends and volume recovery - Management indicated that the volume loss due to the port strike is expected to be temporary, with structural advantages still favoring Canadian ports [51][52] Question: Impact of interswitching provisions - Management expressed concerns that interswitching provisions could hinder supply chain performance but noted no significant impact observed yet [84][85] Question: Volume expectations for Q4 - Management expects sequential growth in volumes across most business lines, with a focus on improving operational leverage [111][152] Question: Customer relationships and service improvements - Management emphasized the importance of service consistency and collaboration with other carriers to enhance service offerings [92][93]

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 ...