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Rail News Home Canadian National Railway - CN 3/2/2021 Rail News: Canadian National Railway - CN
So far during the 2020-21 crop year, CN has moved more than 19.7 MMT of Canadian grain.Photo – cn.ca

CN announced today that for the 12th consecutive month it set a new volume record by shipping more than 2.28 million metric tons (MMT) of Canadian grain and processed grain products via carload in February.

This latest mark exceeds the previous February record set in 2019 of 2.12 MMT by more than 7%, CN officials said in a press release.

Rail News Home Canadian National Railway - CN 2/12/2021 Rail News: Canadian National Railway - CN
The plan includes annual disclosure of greenhouse-gas emissions aligned with the recommendations of the Task Force on Climate-related Financial Disclosures.Photo – cn.ca

CN's board announced yesterday it will seek an annual advisory vote on the company's climate action plan during the general meeting of shareholders in April.

The plan includes annual disclosure of greenhouse-gas emissions aligned with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), a science-based 2030 emission intensity-reduction target, and annual progress updates.

“I am pleased that CN has once again been named to this prestigious list, especially as it comes following a year of unprecedented challenges and changes. Railroaders play an essential role in the economy every day and this award belongs to all of them,” Dorothea Klein, senior vice-president and chief human resources officer at CN, said in a press release.

The Montreal Metropolitan region is home to a large portion of CN’s workforce. More than 3,000 of its employees are located in the area, either working in functions based in its historical downtown headquarters or in one of its many operating terminals in the region, according to the press release.

Rail News Home Canadian National Railway - CN 2/3/2021 Rail News: Canadian National Railway - CN
CN's ability to deliver record amounts of goods is largely due to its investments in capacity, company officials said.Photo – cn.ca

CN has set a new grain-hauling record for the 11th consecutive month by shipping more than 2.95 million metric tons (MMT) of Canadian grain and processed grain products via carload in January.

The grain haul exceeds the previous January record of 2.33 MMT set in 2019 by 27%, as well as the three-year average of 2.24 MMT by 32%, CN officials said in a press release.

Rail News Home Canadian National Railway - CN 1/27/2021 Rail News: Canadian National Railway - CN
CN yesterday reported higher revenue, operating income and earnings per share for fourth-quarter 2020 compared with the same period a year ago. The Class I reported fourth-quarter revenue increased 2% to CA$3.7 billion; operating income rose 16% (13% on an adjusted basis) to CA$1.4 billion; and diluted earnings per share climbed 17% (14% on an adjusted basis) to CA$1.43, CN officials said in a press release. The company posted an operating ratio in the quarter of 61.4%, a decrease of 4.6 points (3.8 points on an adjusted basis) compared with the same quarter in 2019. CN attributed the increase in revenue mainly to record shipments of Canadian grain, increased shipments of U.S. grain, higher international container traffic via the Port of Vancouver and freight rate increases. Those factors were partly offset by lower applicable fuel surcharge rates and lower volumes of petroleum crude. Revenue ton miles (RTMs), measuring the weight and distance of freight transported by CN, increased 10%. Freight revenue per RTM fell 6%, mainly driven by an increase in the average length of haul, changes in business mix and lower applicable fuel surcharge rates; partly offset by freight rate increases. Operating expenses for the quarter decreased 5% to CA$2.2 billion. The decrease was attributed mainly to lower fuel costs, as well as lower purchased services and materials expense. "While the recovery remains uneven across the markets we serve, we are pleased by the momentum in volume demand that grew during the fourth quarter and continues to grow," said CN President and Chief Executive Officer JJ Ruest. "We are increasingly optimistic about 2021 and are reinstating our full-year financial outlook." CN expects to invest CA$3 billion in capital projects in 2021, Ruest said.