The earnings call presented a mixed picture with strong operational recovery and strategic initiatives driving certain segments, like international intermodal and grain, while macroeconomic challenges and specific disruptions affected overall volumes and costs. The company remains optimistic about Q4 improvements and future growth initiatives.

Company Guidance

During the Q3 2024 earnings call for CNR.TO, the company provided detailed guidance and discussed several key metrics. Tracy Robinson, the President and CEO, highlighted the operational performance with a car velocity of 223 miles per day and a train speed of 20 miles per hour. The company reported handling record Western Canadian grain volumes and maintained strong local service levels. Despite a softer-than-expected macroeconomic environment impacting merchandise and automotive sectors, CN delivered an EPS of $1.72, a 2% increase from the previous year, with an operating ratio (OR) of 63.1%. The company anticipates low single-digit adjusted diluted EPS growth for 2024 and maintains a high single-digit EPS CAGR outlook for 2024 to 2026. They are adjusting resources to align with demand, particularly in Eastern and Southern regions, while focusing on CN-specific growth initiatives, which are expected to drive over half of the volume growth in the coming years.

Record Canadian Grain Shipments

Achieved record Canadian grain shipments in September, with a continued strong performance expected into Q4.

Improved Safety Performance

Accident frequency ratio improved by 30% and injury frequency rate improved by 4% in Q3.

Strong International Intermodal Growth

International intermodal RTMs increased by 18% compared to the previous year.

EPS Growth

Delivered an EPS of $1.72 for Q3, which is 2% higher than last year.

Free Cash Flow Generation

Generated approximately $2.1 billion in free cash flow year-to-date by the end of September.

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Canadian National Railway (TSE:CNR) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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TSE:CNR Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jul 24, 2018	2018 (Q2)	- / 1.51	1.34	12.69% (+0.17)	―	―
Oct 23, 2018	2018 (Q3)	- / 1.50	1.31	14.50% (+0.19)	―	―
Jan 29, 2019	2018 (Q4)	- / 1.49	1.2	24.17% (+0.29)	―	―
Apr 29, 2019	2019 (Q1)	- / 1.17	1	17.00% (+0.17)	―	―
Jul 23, 2019	2019 (Q2)	- / 1.73	1.51	14.57% (+0.22)	―	―
Oct 22, 2019	2019 (Q3)	- / 1.66	1.5	10.67% (+0.16)	―	―
Jan 28, 2020	2019 (Q4)	- / 1.25	1.49	-16.11% (-0.24)	―	―
Apr 27, 2020	2020 (Q1)	- / 1.22	1.17	4.27% (+0.05)	―	―
Jul 21, 2020	2020 (Q2)	- / 1.28	1.73	-26.01% (-0.45)	―	―
Oct 20, 2020	2020 (Q3)	- / 1.38	1.66	-16.87% (-0.28)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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TSE:CNR Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 22, 2024	C$154.24	C$154.20	-0.03%
Jul 23, 2024	C$163.55	C$158.24	-3.25%
Apr 23, 2024	C$174.01	C$165.71	-4.77%
Jan 23, 2024	C$165.98	C$162.99	-1.80%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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