Canadian National Railway Company · TSX:CNR

Canadian National Railway — Q1 2024 Earnings Presentation

17 slides from Canadian National Railway's earnings presentation, Apr 23, 2024

  1. Slide 1: First Quarter 2024 Financial and Operating Results

    First Quarter 2024 Financial and Operating Results April 23, 2024 TSX: CNR NYSE: CNI

  2. Slide 2: Forward-looking statements

    Forward-looking statements Certain statements included in this presentation are "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and under Canadian securities laws, including statements based on management’s assessment and assumpti

  3. Slide 3: On the call today

    On the call today Tracy Robinson President and CEO Pat Whitehead Chief Network Operating Officer Derek Taylor Chief Field Operating Officer Doug MacDonald Chief Marketing Officer Ghislain Houle Chief Financial Officer 3

  4. Slide 4: Tracy Robinson, President and Chief Executive Officer

    Tracy Robinson President and Chief Executive Officer

  5. Slide 5: Solid Q1 results – Confidence in financial outlook

    Solid Q1 results – Confidence in financial outlook (1)  Financial results in line with expectations for the first quarter  ‘Make the Plan, Run the Plan, Sell the Plan’ model provides operating resiliency and underpins consistent customer service  Volume outlook supported by an improving macro env

  6. Slide 6: Pat Whitehead, Chief Network Operating Officer

    Pat Whitehead Chief Network Operating Officer

  7. Slide 7: The Plan is geared for growth

    The Plan is geared for growth  Stepping up field engagement and leveraging technology to drive safety performance  The Plan enables consistent and reliable customer service as demand rises  Delivering new network capacity to accommodate growth Q1 Safety Highlights (1)(2) Q1 Origin Train Performan

  8. Slide 8: Derek Taylor, Chief Field Operating Officer

    Derek Taylor Chief Field Operating Officer

  9. Slide 9: Serving our customers is our priority

    Serving our customers is our priority  Car velocity and train speed essentially steady despite headwinds in the quarter  Disciplined network execution and fluid yards are the cornerstone of consistent, reliable customer service  Running the Plan will drive operating leverage, particularly in our

  10. Slide 10: Doug MacDonald, Chief Marketing Officer

    Doug MacDonald Chief Marketing Officer

  11. Slide 11: Firming merchandise and intermodal segments driving growth

    Firming merchandise and intermodal segments driving growth  Improving demand for international intermodal and strength in potash, refined petroleum products, and frac sand; offset by weaker crude oil, coal and grain segments  Continued strong pricing above rail inflation helped offset lower fuel s

  12. Slide 12: Demand momentum building in 2024

    Demand momentum building in 2024 Merchandise Bulk Consumer Products ↑ Forest Products ↑ Western Canadian Coal ↑ International Intermodal ↑ Metals and Minerals ↓ U.S. Coal Domestic Intermodal ↑ Petroleum Products ↑ Grain ↑ Automotive ↑ Chemicals and Plastics ↓ Fertilizers 12

  13. Slide 13: Ghislain Houle, Chief Financial Officer

    Ghislain Houle Chief Financial Officer

  14. Slide 14: Good results to start the year – in line with our expectations

    Good results to start the year – in line with our expectations  EPS of $1.72 down 5% – a solid performance versus last year’s record Q1 performance, which included a 10-cent fuel lag tailwind  Q1 operating ratio returned to a more winter-like OR Q1 Operating Income Q1 Operating Ratio Q1 Diluted EP

  15. Slide 15: Advancing our strategy – reaffirming 2024 financial outlook

    Advancing our strategy – reaffirming 2024 financial outlook (1)  Reaffirming outlook for ~10% adjusted diluted EPS (2) growth over 2023  CAPEX and ROIC on track with guidance  Continuing to reward shareholders with 7% dividend growth, and executing on our share repurchase program in the range of

  16. Slide 16: Tracy Robinson, President and Chief Executive Officer

    Tracy Robinson President and Chief Executive Officer

  17. Slide 17: Our Plan is working

    Our Plan is working  The team is coming together  Scheduled operation is delivering for customers  Ready for strong balance-of-year volumes 17

Canadian National Railway Company — Q1 2024 Earnings Presentation on 6ix