Canadian National Railway Reports Q1 Profit
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 29 2026
0mins
Should l Buy CNI?
Source: NASDAQ.COM
- Profit Performance: Canadian National Railway reported a first-quarter profit of C$1.146 billion, translating to earnings per share of C$1.87, which, while slightly lower than last year's C$1.161 billion and C$1.85 per share, indicates stability in profitability.
- Adjusted Earnings: Excluding certain items, the company reported adjusted earnings of C$1.102 billion or C$1.80 per share, suggesting that core operations remain strong despite fluctuations in overall earnings.
- Revenue Decline: The first-quarter revenue fell to C$4.379 billion, down 0.5% from C$4.403 billion last year, reflecting a slight weakening in market demand that could pose challenges for future business growth.
- Market Outlook: Despite the revenue decline, the company demonstrates resilience in profitability, necessitating close monitoring of market trends to adjust strategies and ensure sustained growth.
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Analyst Views on CNI
Wall Street analysts forecast CNI stock price to rise
15 Analyst Rating
9 Buy
6 Hold
0 Sell
Moderate Buy
Current: 111.640
Low
105.00
Averages
113.56
High
136.77
Current: 111.640
Low
105.00
Averages
113.56
High
136.77
About CNI
Canadian National Railway Company is a transportation and logistics company. The Company's services include rail, intermodal, trucking, and supply chain services. The Company’s rail services offer equipment, customs brokerage services, transloading and distribution, private car storage and others. Its intermodal container services help shippers expand their door-to-door market reach with about 23 strategically placed intermodal terminals. Its intermodal services include temperature-controlled cargo, port partnerships, logistics park, custom brokerage, transloading and distribution, and others. Its trucking services include door-to-door service, import and export dray, interline services, and specialized services. Its supply chain services offer comprehensive services across a range of industries and product types. The Company transports more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Insufficient Competition Analysis: While the amended application addresses one of the three deficiencies identified by the STB in January 2026, it fails to provide the required competition analyses and consistent market share information, leaving critical gaps in the assessment process.
- Pricing Program Issues: CN points out that the proposed Committed Gateway Pricing (CGP) program, which applies to less than 1% of U.S. rail traffic, could actually increase shipping costs for many shippers, failing to deliver meaningful competitive enhancements as claimed by the applicants.
- Confidence in Regulatory Review: CN appreciates the STB's commitment to a thorough and fair review process, believing it will help protect rail competition, support affordable transportation options for shippers, and strengthen the resilience of North American supply chains.
See More
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- Issuance Timeline: The offering is expected to close on May 12, 2026, subject to customary closing conditions, providing the company with a flexible window for capital raising.
- Clear Use of Proceeds: The net proceeds from the offering will be used for general corporate purposes, including the repayment of commercial paper, which will help optimize the company's capital structure and reduce short-term debt risk.
- Strong Underwriting Team: The joint bookrunners for this debt offering include J.P. Morgan Securities, RBC Capital Markets, and SMBC Nikko Securities America, showcasing the company's strong backing and credibility in the capital markets.
See More
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- Debt Offering Size: CN has announced a public debt offering totaling $750 million, consisting of $300 million in 4.350% Notes due 2029 and $450 million in 4.950% Notes due 2036, which will provide essential funding to support its operations and growth.
- Clear Use of Proceeds: The net proceeds from this debt offering will be utilized for general corporate purposes, including the repayment of commercial paper, which will help optimize the company's capital structure and reduce financial costs.
- Timely Issuance Schedule: CN expects to close the debt offering on May 12, 2026, subject to customary closing conditions, demonstrating the company's proactive approach in capital markets and its financing capabilities.
- Strong Underwriter Lineup: The joint bookrunners for this debt offering include J.P. Morgan, RBC Capital Markets, and SMBC Nikko, and the involvement of these reputable financial institutions enhances market confidence in the debt issuance.
See More
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- Strict Evaluation Criteria: Recipients are evaluated based on stringent safety standards, with 194 shippers' ongoing efforts ensuring safety during transportation, further solidifying CN's leadership position in the North American transportation industry.
- Core Value Emphasis: CN executives emphasize that safety is the company's core value, guiding all operational activities to ensure the safety of employees and communities, thereby enhancing the company's reputation among customers and the public.
- Responsible Care Program: The Safe Handling Award is a crucial part of CN's Responsible Care Program, aimed at continuously improving transportation safety performance and driving business growth in both Canada and the U.S.
See More
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- Consistent Strong Performance: This achievement marks eight months of robust performance for the crop year, with seven months setting new records, reflecting CN's efficient operations and steady export demand.
- Supporting Agricultural Supply Chain: As farmers in Western Canada enter the seeding season, CN remains focused on providing consistent and reliable service to support the agricultural supply chain and ensure capacity meets ongoing demand.
- Network Advantage: With nearly 20,000 miles of rail network, CN safely transports over 300 million tons of natural resources and manufactured goods, promoting sustainable trade and contributing to the prosperity of the communities in which it operates.
See More
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- Chair Re-election: Shauneen Bruder was unanimously re-elected as board chair, bringing her extensive experience as a former Executive Vice-President at the Royal Bank of Canada to guide the company's future.
- Voting Transparency: The voting results will be filed with Canadian and U.S. securities regulators, ensuring transparency and trust in corporate governance, which enhances the company's credibility in the market.
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See More
