Company Overview - Canadian National Railway Company (NYSE:CNI) is a significant entity in the North American transportation sector, providing rail services across Canada and the United States, and is a vital part of the logistics and supply chain industry [1] Analyst Sentiment - The consensus price target for CNI has fluctuated, with an average target of $101 set a month ago, down from $102 in the previous quarter and $105.8 a year ago, indicating a more conservative outlook from analysts [2][6] - Wells Fargo has set a more optimistic price target of $130 for CNI, reflecting confidence in the company's potential to exceed earnings estimates, supported by expectations of earnings growth in the upcoming financial release [3][5][6] Market Conditions - The current market is perceived as expensive, with historical patterns suggesting low returns often follow market peaks, yet a consensus expectation of 15% growth in S&P 500 earnings, driven by AI advancements, supports a stable long-term market outlook [4] - The reliance on short-term debt by the U.S. government makes interest expenses sensitive to Federal Reserve policy changes, affecting market complexity and long-term yields [5]

Core Viewpoint - CSX Corp. is set to release its fourth quarter financial and operating results on January 22, 2026, followed by a conference call and webcast for investors [1]. Group 1: Financial Results Announcement - The fourth quarter financial and operating results will be announced after market close on January 22, 2026 [1]. - A conference call and live webcast will be hosted by the management team at 4:30 p.m. Eastern Time on the same day [1]. Group 2: Participation Details - Interested participants can join the teleconference by dialing 1-888-510-2008, with international callers using 1-646-960-0306 [2]. - Callers are advised to dial in 10 minutes prior to the call and use the passcode 3368220 [2]. - Presentation materials and access to the webcast will be available on the company's investor relations website [2]. Group 3: Company Overview - CSX, headquartered in Jacksonville, Florida, is a leading transportation company providing rail, intermodal, and rail-to-truck transload services [3]. - The company serves a diverse range of markets, including energy, industrial, construction, agricultural, and consumer products [3]. - CSX has been integral to the economic expansion and industrial development of the United States for nearly 200 years, connecting major metropolitan areas in the eastern U.S. [3]. - The network links over 240 short-line railroads and more than 70 ports with major population centers and farming towns [3].

Financial Performance - The company reported a net income of $1097 million in 1Q'25, a significant turnaround from a net loss of $566 million in 1Q'24 and $1336 million in 4Q'24[8] - Consolidated Adjusted EBITDA excluding Long Ridge gain increased to $352 million in 1Q'25, up 29% year-over-year from $272 million in 1Q'24 and up 21% sequentially from $292 million in 4Q'24[8,10] - The acquisition of Long Ridge contributed a $120 million gain in 1Q'25, resulting in a consolidated Adjusted EBITDA including the gain of $1552 million[8,9,10] Segment Results - Transtar generated $199 million in Adjusted EBITDA in 1Q'25, slightly up from $194 million in 4Q'24[8,21] - Long Ridge contributed $181 million in Adjusted EBITDA in 1Q'25, reflecting 100% ownership for only a portion of the period, with March exceeding $10 million[8,13,22] - Jefferson Terminal's Adjusted EBITDA was $80 million in 1Q'25, impacted by tanks being off-lease, but is expected to increase with new contracts commencing in 2025[8,13,27,30] - Repauno had a negative Adjusted EBITDA of $(15) million in 1Q'25, but anticipates growth with phase two contracts[8,31] Capital Structure - As of March 31, 2025, the company had $223 million in cash and restricted cash[14] - Total debt, net, amounted to $2755 billion, with a debt-to-capital ratio of 76%[14]