Canadian National (CNI) Brings Out Winter Plan for 2023-2024
Canadian National Railway Company CNI recently posted its Winter Plan for 2023-2024. The document sketches the actions CNI has taken to safely and efficiently meet customer demands during the upcoming winter months.
New initiatives include enhancing the scheduled operating plan (further enhancements to the existing plan will deliver incremental development), introducing more locomotive initiatives (modernization of 60 DC-traction locomotives and CNI’s efforts to increase locomotive reliability are expected to bolster the fleet as far as reliability, and carbon and fuel efficiency is concerned), rolling stock acquisition (750 new hopper cars will join the fleet in 2024) and staffing resources for 2023-2024 in accordance with customer demand.
CNI’s CEO, Tracy Robinson, stated, “Winter conditions bring unique challenges to every part of the supply chain, from production to market. CN’s Winter Plan seeks to anticipate those challenges, mitigate their impact, and facilitate quick recovery. But the resiliency and reliability of Canada’s end-to-end supply chain require us all to work together – coordinating our planning and aligning our execution. The Canadian economy, our customers, and Canada’s position as a reliable trading partner need and expect this level of collaboration.”
To sum up, the overall aim of this year’s Winter Plan is to promote safe working conditions, meet customer demands, improve network performance and enhance network resilience.
Zacks Rank
Canadian National currently carries Zacks Rank #4 (Sell).
Key Picks
Some better-ranked stocks for investors interested in the Zacks Transportation sector are GATX Corporation GATX and Ryder System R.
GATX, which presently carries a Zacks Rank #2 (Buy), has strengthened its railcar leasing operations. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
For third-quarter and full-year 2023, GATX’s earnings are expected to register 36.6% and 14.3% growth, respectively, on a year-over-year basis.
Ryder, which currently carries a Zacks Rank #2, is benefiting from its consistent efforts to reward shareholders through dividends and share repurchases.
Despite weak market conditions, Ryder reported better-than-expected earnings in second-quarter 2023. In fact, the company has an impressive earnings surprise history. R has surpassed the Zacks Consensus Estimate in three of the last four quarters (missing the mark once), the average beat being 11.2%.
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