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“We should know in a couple of weeks, sometime in late July or early August, when the STB has had the time to reflect on all the things that we have filed,” Jean-Jacques Ruest, Canadian National’s chief executive officer, told analysts on a conference call Tuesday.
“We’re very confident that we have a very solid case. We are meeting the test of the voting trust and we are creating, definitely, a new competition, a new public benefit.”
Key Takeaways
Canadian National saw its biggest jump in freight revenue from automotive, which almost doubled, followed by intermodal, metals and minerals, petroleum and chemicals, and coal in the quarter. Revenue from transporting grains and fertilizers was the only business to see freight revenue fall, slipping 6% from a year earlier.The company plans to buy Kansas City Southern for about $30 billion after outbidding Canadian Pacific Railway Ltd. and is waiting for regulators to approve a voting trust that’s key for t
Revenue for the three months ended June 30 was $3.60 billion, up from $3.21 billion the previous quarter.
The company also declared a dividend for its third quarter, of 61.5 cents per share to be paid in September.
In 2020, CN was forced to build longer and heavier trains due to the sharp retreat in rail volumes and customer demand during the COVID-19 pandemic. The company said Tuesday that as the economy rebounds, it has been able to revert to its standard operating plan and improve train speeds.
At the end of June, CN lost a critical bridge on its route to Vancouver due to wildfire in the area of Lytton, B.C. The railway was able to restore service last week after a two-week outage, but chief operating officer Rob Reilly said Tuesday it will be a few weeks more before CN fully recovers from the resulting backlog in traffic.
Врач-кардиолог Роберт Рабинович утверждает, что осторожность в жаркую погоду нужно соблюдать людям, имеющим хронические кардиологические заболевания. - Каждый человек должен оценивать свои силы индивидуально, как он переносит жару, но общие принципы должны учитываться всегда. Воздействие жары приводит к потере жидкости. В связи с этим нужно избегать таких интенсивных воздействий на себя и обязательно соблюдать питьевой режим. Если вы выходите на улицу в жару, нужно при себе иметь емкость с негазированной водой, периодически делать мал
CN reports strong earnings growth as rail traffic recovers from COVID-19 pandemic
A man walks into central station next to CN headquarters in Montreal, Tuesday, Nov. 26, 2019. THE CANADIAN PRESS/Graham Hughes July 20, 2021 - 3:34 PM
MONTREAL - Canadian National Railway Co. nearly doubled earnings and revenues in its second quarter as the company began to recover from the COVID-19 pandemic.
The Montreal-based railway earned $1.03 billion or $1.46 per share, up from $545 million or $0.77 per share in the first quarter of 2021. Excluding one-time items, adjusted profits were $1.06 billion or $1.49 per share, compared with $988 million or $1.28 per share in the first quarter.
Revenue for the three months ended June 30 was $3.60 billion, up from $3.21 billion the previous quarter.