Core Insights - CN has published its 2025–2026 Grain Plan, emphasizing its commitment to high-performance service through disciplined planning and targeted infrastructure investments [1][3] - The company achieved a record volume of grain delivery in the past crop year, with projections for Western Canadian movement in 2024-25 expected to reach approximately 31 million metric tonnes (MMT), surpassing the previous record by about one million metric tonnes [2] Company Commitment - The Grain Plan reflects CN's dedication to supporting Canadian agriculture and enhancing the global competitiveness of farmers and grain handlers [3] - CN's investments are aimed at enabling the success of Canadian farmers and strengthening agricultural trade across North America [4] Capacity and Operations - CN anticipates moving between 27.0 to 29.5 million metric tonnes of grain and processed grain products during the 2025–2026 crop year, indicating sufficient resources to meet demand under normal operating conditions [7] - The company is innovating its supply chain coordination by changing the distribution method of empty hopper cars from West Coast ports, enhancing visibility and planning for customers [7] Transparency and Communication - CN provides end-to-end transparency through its Western Canadian Grain Report and operational dashboards, offering stakeholders weekly updates on car orders and supply chain conditions [7]

Core Insights - CN has delivered a record volume of grain during the 2024-2025 crop year, with projections indicating Western Canadian movement will total approximately 31 million metric tonnes (MMT), surpassing the previous record by roughly one million metric tonnes [2] Group 1: 2025-2026 Grain Plan - The 2025-2026 Grain Plan showcases CN's commitment to high-performance service through disciplined planning, targeted infrastructure investments, and proactive supply chain collaboration [1][3] - The plan emphasizes CN's support for Canadian agriculture and aims to enhance the global competitiveness of farmers and grain handlers [3][4] - CN anticipates moving between 27.0 to 29.5 million metric tonnes of grain and processed grain products during the 2025-2026 crop year, indicating sufficient resources to meet demand under normal operating conditions [6] Group 2: Supply Chain Innovations - CN is innovating its supply chain coordination by changing the distribution method of empty hopper cars from West Coast ports, enhancing visibility and planning for customers [6] - Customers will benefit from improved tracking of rail shipments through CN's rail shipment tracking tool, providing greater transparency [6] - The Western Canadian Grain Report and operational dashboards will offer stakeholders weekly updates on car orders, supply chain conditions, and system fluidity [6]

Revenue Challenges - Canadian National Railway is experiencing revenue pressure primarily due to rising tariffs on high-margin merchandise and forest products [1] - There is a shift in the product mix towards lower-margin bulk commodities, further impacting revenue [1] Analyst Background - The analyst has over 15 years of experience in investment and research services, focusing on mid-sized hedge funds with assets between $100 million and $500 million [1] - The analyst has a background in analyzing industrial, consumer, and technology sectors, indicating a generalist approach with higher conviction in these areas [1]

Group 1 - The article promotes a research service focused on various income-generating investment vehicles, including REITs, mREITs, Preferreds, BDCs, MLPs, and ETFs, highlighting its positive testimonials [1] - It offers a free 2-week trial for potential subscribers to evaluate the service [1] Group 2 - The article includes a disclosure from the analyst indicating a long position in the shares of specific companies, namely FIX and UNP, through various financial instruments [2] - It clarifies that the opinions expressed are solely those of the author and not influenced by any business relationships with the mentioned companies [2] Group 3 - The article contains a disclaimer from Seeking Alpha stating that past performance does not guarantee future results and that no investment recommendations are being made [3] - It emphasizes that the views expressed may not represent those of Seeking Alpha as a whole and that the analysts are third-party authors without necessary licenses or certifications [3]

Core Insights - Canadian National Railway Company (CNI) reported second-quarter 2025 results with earnings and revenues falling short of Zacks Consensus Estimate, leading to a 4.9% decline in stock price since the earnings release on July 22 [1] Financial Performance - Earnings per share (EPS) were $1.35 (C$1.87), missing the Zacks Consensus Estimate of $1.37 and remaining flat year-over-year [3] - Revenues for Q2 2025 were $3.09 billion (C$4.3 billion), below the Zacks Consensus Estimate of $3.16 billion, and declined 2.4% year-over-year [3] - Revenue ton-miles (RTMs) decreased by 1% year-over-year, while carloads dropped by 0.4% [4] - Operating expenses fell by 5.2% year-over-year due to cost-cutting measures [4] - Operating income grew by 4.9% compared to Q2 2024, with the operating ratio improving by 0.5 points to 61.7% [5] Segment Performance - Freight revenues, which accounted for 95.7% of total revenues, decreased by 1.5% year-over-year [6] - Specific declines in freight revenues included petroleum and chemicals (-5%), metals and minerals (-7%), forest products (-8%), intermodal (-3%), and automotive (-6%) [6] - Revenues from grain and fertilizers increased by 13% year-over-year, while coal revenues remained flat [6][7] Liquidity and Capital Management - CNI ended Q1 2025 with cash and cash equivalents of C$216 million, down from C$389 million at the end of Q4 2024 [9] - Long-term debt decreased to C$19.3 billion from C$19.7 billion at the end of December 2024 [9] - CNI generated C$1.75 billion from operating activities, with free cash flow at C$922 million [9] - Under its current Normal Course Issuer Bid (NCIB), CNI may repurchase up to 20 million common shares, having repurchased 2.2 million shares for $300 million as of March 31, 2025 [10] Outlook - For full-year 2025, CNI anticipates mid to high-single-digit adjusted EPS growth, revised down from a previous guidance of 10%-15% [11] - CNI plans to invest approximately C$3.4 billion in its capital program, net of customer reimbursements [11] - The company has withdrawn its financial outlook for the 2024-2026 period due to macroeconomic uncertainty [11]

Group 1 - Canadian National Railway Co. (CNR) is expected to meet its FY25 EPS guidance, supported by visible growth drivers [1] - The author has a diverse investing background, utilizing fundamental, technical, and momentum investing approaches to enhance the investment process [1] - The article serves as a performance tracker for investment ideas and aims to connect with like-minded investors [1] Group 2 - There are no disclosed stock, option, or derivative positions in any mentioned companies, nor plans to initiate such positions in the near term [2] - The article reflects the author's personal opinions and is not compensated beyond the platform used for publication [2] - Seeking Alpha does not provide investment recommendations and the views expressed may not represent the platform as a whole [3]

Core Viewpoint - The article emphasizes the importance of identifying high-quality businesses with strong fundamentals and fair valuations for investment opportunities [1]. Group 1: Company Characteristics - The focus is on companies that possess wide moats, high efficiency, strong cash flows, and healthy balance sheets [1]. - The writer seeks to find "wonderful companies" that are available at fair prices, indicating a value-oriented investment approach [1]. Group 2: Investment Philosophy - The article invites opposing views to refine investment ideas, highlighting the importance of critical analysis in investment decision-making [1]. - The writer expresses a commitment to independent analysis, suggesting that personal opinions are prioritized over external influences [2].

Group 1 - Citigroup has lowered the target price for Canadian National Railway Company from $123 to $121 [1]

花旗集团将 加拿大国家铁路公司目标价从123美元下调至121美元。 ...

分组1 - Canadian National (CNI) reported quarterly earnings of $1.35 per share, missing the Zacks Consensus Estimate of $1.37 per share, with an earnings surprise of -1.46% [1] - The company posted revenues of $3.09 billion for the quarter ended June 2025, missing the Zacks Consensus Estimate by 2.16%, compared to year-ago revenues of $3.16 billion [2] - Over the last four quarters, CNI has surpassed consensus EPS estimates just once and topped consensus revenue estimates only once [2] 分组2 - CNI shares have lost about 1.9% since the beginning of the year, while the S&P 500 has gained 7.2% [3] - The company's earnings outlook is crucial for investors, including current consensus earnings expectations for upcoming quarters [4] - The current consensus EPS estimate for the coming quarter is $1.41 on revenues of $3.16 billion, and $5.66 on revenues of $12.88 billion for the current fiscal year [7] 分组3 - The Zacks Industry Rank indicates that the Transportation - Rail industry is currently in the top 14% of over 250 Zacks industries, suggesting a favorable outlook [8] - Canadian Pacific Kansas City (CP), another company in the same industry, is expected to report quarterly earnings of $0.82 per share, reflecting a year-over-year change of +6.5% [9] - CP's revenues are anticipated to be $2.79 billion, up 5.8% from the year-ago quarter [10]