财务表现 - 2023年总收入为52.7亿加元，较2019年增长3.1%[14] - 2023年调整后每股收益为13.00加元，较2019年下降[62] - 2023年调整后营业比率为60.8%，较2019年有所改善[61] - 2023年资本投资为52.7亿加元，同时调整后投资回报率为15.9%[38] 运营效率 - 公司通过"制定计划、执行计划、销售计划"的调度运营模式提高了车辆速度和网络流畅性[42-59] 抗风险能力 - 公司的多元化货运组合和广泛的地理覆盖为其带来了抗经济波动的能力[33-35] - 公司运营多元化的商品组合,有助于抵御经济波动,增强增长潜力[76] 基础设施投资 - 公司过去5年累计投资超155亿加元改善网络安全性和流畅性，同时不断降低碳排放强度[37-41] 股东回报 - 公司股价在过去5年内在多伦多证券交易所的复合年增长率为13%[17,20] - 公司过去5年向股东分配了66.22亿加元的股票回购和45.51亿加元的股息[19] 林产品业务 - 公司拥有北美最大的林产品铁路车厢车队,并且战略性地位于加拿大西部和东部木材产区,可服务美国中西部和南部市场[110] - 公司的林产品业务收入为19.43亿美元,占总收入的12%,其中54%来自木材和板材,46%来自纸浆和纸张[109] 集装箱业务 - 公司的国际集装箱业务与主要港口有供应链合作协议,提供全球贸易连接[93] - 公司拥有自有的温控运输业务CargoCool®,拥有加拿大最大的冷藏车队之一[94] - 公司的国内集装箱业务专注于运输大型零售商的消费品以及批发物流客户的原材料、制成品和消费品[96][97] - 公司的国际集装箱业务处理进出口干货和温控集装箱货物,国内集装箱业务则专注于北美消费品和工业品[96][97] - 公司的集装箱业务收入占总收入的23%,其中60%来自国际业务,40%来自国内业务[90] - 公司的集装箱业务收入为38.23亿美元,运输量为56,029万吨公里,平均运距为258公里[101] 金属和矿产品业务 - 金属和矿产品占公司2023年收入的比例为55%[124] - 公司是北美最大的铝、铁矿石和基本金属矿石运输商之一[127] - 公司服务10家铝冶炼厂,是北美铁路公司中服务最多的[126] - 公司触及加拿大所有主要页岩气田,包括加拿大西部沉积盆地[128] - 2023年金属和矿产品业务预计收入为20.48亿加元[125] 汽车物流业务 - 2023年营业收入为945百万美元，较2019年增长3.3%[198] - 2023年运输量为3,735千个车厢，较2019年增长32.4%[198] - 2023年运输吨公里为269百万吨公里，较2019年增长44.4%[198] - 2023年每运输吨公里收益为30.13美分，较2019年增长6.3%[198] - 汽车整车业务占总业务的93%，汽车零部件业务占7%[201] - 每年处理超过200万辆整车[202] - 主要受益于全球和北美汽车产销量增长以及汽车零部件需求[203] - 公司在12个北美整车制造工厂周围拥有18个汽车物流园区[204]

Pgiam A Brief History Of The Railroad Industry Railroads were first built in the US in the 19th century, rapidly and everywhere: by 1916, there was a peak of 254,037 miles of rail, and 1,200 railroad carriers, which collectively employed 1.7 million workers in the US. However by the 1920s - 1930s, automobiles became popular as road construction was subsidized, and in the 1950s - 1960s the rise of jet airlines both competed with (and won against) passenger rail in the US, leaving just freight rail standing. ...

August represents a great opportunity for investors to take advantage of the best blue-chip stocks to buy. With the stock market falling hard, a more balanced investing approach can help weather the storm. Blue-chip stocks are great stock picks in any macroeconomic environment, but are especially great in times of uncertainty. They are large cap, well-established companies that have strong track records of success. This often pertains to their stable cash flow, earnings and strong balance sheets. In additio ...

MONTREAL, July 31, 2024 (GLOBE NEWSWIRE) -- CN (TSX:CNR) (NYSE:CNI) today published its 2024-2025 Grain Plan, which builds on the Company's successful operational improvements and strategic capital investments from the previous grain season. "We are confident that we have the right approach and resources in place to move this year's Canadian grain crop efficiently. We continue to lean into our scheduled railroading model and making sure that our ongoing capital investments position us for success again this ...

Canadian National Railway Company (CNI) reported second-quarter 2024 earnings (excluding 7 cents from non-recurring items) of $1.35 per share (C$1.84), which missed the Zacks Consensus Estimate of $1.41. However, the bottom line improved 3.05% year over year.Revenues for the second quarter of 2024 were $3.16 billion (C$4.33 billion), which lagged the Zacks Consensus Estimate of $3.23 billion. However, this reflects an increase of 4.75% year over year, driven by higher volumes.Volumes (carloads) increased 4% ...

PgiamAll financial numbers in this article are in Canadian dollars unless noted otherwise. Introduction It's time to do one of my favorite things: discussing Class I railroads. Today, we start with the Canadian National Railway Company (NYSE:CNI), Canada's largest railroad and the competitor of my investment in Canadian Pacific Kansas City (CP). My most recent article on this US$76 billion market cap giant was written on April 29, when I called it a place where "Dividend Investors Go For Income And Grow ...

MONTREAL, July 24, 2024 (GLOBE NEWSWIRE) -- CN (TSX:CNR) (NYSE:CNI) today announced a commitment of $1.5 million through a three-year partnership with Hockey Helps the Homeless (HHTH). Starting with the 2024-2025 hockey season, CN will become the new Premier National Partner for HHTH to help raise awareness and financial support for people experiencing homelessness through education, fundraising, and partnering with solutions-based local shelters and services. In addition to assuming the role of Premier Nat ...

财务数据和关键指标变化 - 第二季度收入同比增长7%,主要受益于定价提升、运量增加和汇率有利影响,但被燃料附加费下降所抵消 [52] - 每吨收入略有下降,主要是由于业务组合发生变化,长距离运输业务占比增加 [53][56] - 每股收益同比下降1%,但调整后每股收益增长5%,主要受到资产处置损失的影响 [79] - 经营比率同比上升160个基点至62.2%,主要由于成本上升,但较上一季度改善140个基点 [80] 各条业务线数据和关键指标变化 - 国际集装箱业务收入增长6%,运量增长13%,其中国际业务增长19%,国内业务下降1% [56][57] - 谷物和化肥业务收入和运量均增长7%,其中加拿大谷物运量增长24%,但钾肥运量下降 [59][60] - 石油化工业务收入增长14%,运量增长12%,主要受益于汽柴油和航油需求增加,以及天然气液体出口增加 [62] - 金属矿产业务收入增长6%,运量增长12%,主要受益于油砂运输增加36%,但钢铁制品运输下降 [63] - 汽车业务收入增长9%,运量增长12%,主要受益于进口车运输增加,但短距离运输下降 [64] - 林产品业务收入增长4%,但运量持平,其中纸浆和纸张运输增长4%,但木材运输下降3% [65] - 煤炭业务收入下降8%,运量下降11%,受到加拿大西部可运输量下降和美国热电煤需求下降的影响 [66] 各个市场数据和关键指标变化 - 西部地区运量创历史新高,但受到维修作业影响,导致运营效率下降 [32][33][34][35] - 东部和南部地区运营指标优于去年,但南部地区由于煤炭和谷物运量下降导致劳动生产率下降 [30][37] 公司战略和发展方向及行业竞争 - 公司正在积极推进一系列自身增长举措,如发展国际集装箱业务、油砂运输、化工品出口等,这些都是公司未来增长的重点 [13][53][54][55][71] - 公司正在努力提高运营效率,通过提高列车速度和车辆周转率来提升杠杆效应 [30][35][50] - 公司面临的主要挑战是加拿大劳资谈判的不确定性,以及加拿大联邦政府颁布的新工时规定带来的人员配置问题 [16][17][18][49] 管理层对经营环境和未来前景的评论 - 宏观经济环境总体符合预期,工业生产略有增长,但消费市场存在一些时滞性问题 [12] - 公司自身的增长举措进展良好,为公司带来了可观的业务增长 [13] - 公司预计下半年国际集装箱业务将保持增长势头,但受劳资不确定性影响,短期内可能会有一些业务转移到美国港口 [67][68][69] - 谷物业务有望在第四季度表现强劲,但钾肥和热电煤出口需求疲软 [59][60][61][66] - 石油化工、化工品和矿产品业务有望保持良好增长势头 [62][63][71] - 汽车和林产品业务面临一定下行压力 [64][65] - 公司有信心通过提高运营效率来提升盈利能力,并维持3年10%-15%的复合增长目标不变 [121][137][138] 其他重要信息 - 公司正在积极应对加拿大劳资谈判的不确定性,希望尽快达成协议,改善员工工作时间安排,提高人员配置效率 [17][18][19][20][49] - 公司二季度运量整体符合预期,但业务组合发生变化,导致杠杆效应下降 [21][22][23][24][25][26] - 公司已采取措施调整人员和资产,以应对当前的需求变化 [37][38][39] - 公司修正了全年业绩指引,预计中高单位数的每股收益增长,假设不会出现进一步的劳资纠纷和港口中断 [28][87][88][91][92] 问答环节重要的提问和回答 问题1 **Christian Wetherbee 提问** 询问第三季度和第四季度的经营比率走势,是否会随着维修作业影响的消除而改善 [95][96] **Ghislain Houle 回答** 二季度维修作业导致的一次性高成本将在下半年得到改善,预计第三季度经营比率将好于第二季度 [97] 问题2 **Cherilyn Radbourne 提问** 询问公司是否有足够的运力应对Vancouver地区创纪录的运量,以及对此次中断的管理是否满意 [99][100] **Derek Taylor 回答** 公司对Vancouver地区的运力还是有信心的,但需要更好地规划和执行维修作业,减少对运营的影响 [100][101][102] 问题3 **Scott Group 提问** 询问公司的定价策略,为何收入吨公里指标仍有下降 [102][103][104][105] **Remi Lalonde 回答** 公司正在保持定价高于成本上涨,但由于业务组合发生变化,导致平均运距增加,从而拉低了收入吨公里指标 [105]

For the quarter ended June 2024, Canadian National (CNI) reported revenue of $3.16 billion, up 4.8% over the same period last year. EPS came in at $1.35, compared to $1.31 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $3.23 billion, representing a surprise of -2.04%. The company delivered an EPS surprise of -4.26%, with the consensus EPS estimate being $1.41.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street ...

Canadian National (CNI) came out with quarterly earnings of $1.35 per share, missing the Zacks Consensus Estimate of $1.41 per share. This compares to earnings of $1.31 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -4.26%. A quarter ago, it was expected that this railroad would post earnings of $1.27 per share when it actually produced earnings of $1.28, delivering a surprise of 0.79%.Over the last four quarters, the company ...