Stacey Alderson
Head of Investor Relations, CN
Replay available
Canadian National Railway Company (CNI) Q4 2025 Earnings Call
Canadian National Railway Company (NYSE: CNI) Q4 2025 earnings conference call, held 2026-01-30. Replay captured from the company's public earnings webcast.
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Investor webinar replay
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Replay transcript excerpt
WEBVTT 00:00:00.031 -- 00:00:05.038 As a reminder, forward-looking statements are not guarantees, and factors such as economic 00:00:05.038 -- 00:00:10.105 conditions, competition, fuel prices, and regulatory changes could impact 00:00:10.105 -- 00:00:15.192 actual outcomes. It is now my pleasure to turn the call over to CN's President and 00:00:15.192 -- 00:00:18.717 Chief Executive Officer, Tracy Robinson. 00:00:18.717 -- 00:00:22.382 Thanks, Stacey, and thank you all for joining us today. 00:00:22.382 -- 00:00:26.322 I'm pleased this morning to share our Q4 and full-year results. 00:00:26.322 -- 00:00:31.248 2025 was a year in which this team delivered strong performance against a backdrop of 00:00:31.248 -- 00:00:34.211 significant volatility and a challenging macro. 00:00:34.211 -- 00:00:38.596 The actions we took over the past year were proactive and exactly what the environment 00:00:38.596 -- 00:00:43.562 demanded. We've been disciplined. We've completed an important investment cycle. 00:00:43.562 -- 00:00:48.568 We've maintained a relentless focus on productivity improvement and increasingly on commercial 00:00:48.568 -- 00:00:52.413 intensity. And these actions drove our 2025 results. 00:00:52.413 -- 00:00:56.537 They helped us navigate a tough year and have set us up well for when volumes start to 00:00:56.537 -- 00:01:01.624 grow across the industry again. Now, on our last call, we made three commitments to ensure 00:01:01.624 -- 00:01:05.169 we deliver the type of returns we know CN is capable of. 00:01:05.169 -- 00:01:10.457 The first was on performance. As Q4 demonstrates, we continue to intensify our commercial 00:01:10.457 -- 00:01:14.943 execution while maintaining strong, disciplined network performance. 00:01:14.943 -- 00:01:20.872 Our focus is si...