Canadian National Railway Company is a leading North American transportation company, moving over 300 million tons of goods annually across its nearly 20,000-mile rail network. Connecting Canada’s Eastern and Western coasts with the U.S. Midwest and Gulf Coast, Canadian National Railway Company supports industries, communities, and global trade since 1919. With a focus on safety, service, and growth, Canadian National Railway Company’s operating model and investments position it as a key player in logistics.
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Detailed Company Profile
Headquartered at 935 de La Gauchetière Street West, Montreal, Quebec H3B 2M9, Canadian National Railway Company operates across Canada and the United States. Its network covers eight Canadian provinces and 16 U.S. states, spanning nearly 20,000 route miles and connecting the Pacific, Atlantic, and Gulf of Mexico coasts. With about 25,000 employees, Canadian National Railway Company handles around 15,000 shipments daily, transporting goods like grain, fertilizers, raw materials, energy commodities, and manufactured products.
In 2024, Canadian National Railway Company maintained operations despite labor disruptions, wildfires, and weaker demand in some areas. The company uses a scheduled railroading model—“Make the Plan, Run the Plan, Sell the Plan”—to ensure reliable service and quick recovery. Safety is a priority, with 2024 recording the second-best accident and injury performance in its history. Canadian National Railway Company invests in technologies like Autonomous Track Inspection Program (ATIP) railcars and Automated Inspection Portals (AIPs) to improve safety and efficiency.
Sustainability efforts include reducing rail emissions, engaging with Indigenous communities through the Indigenous Reconciliation Action Plan (IRAP), and transparent environmental reporting. These initiatives led to a top governance ranking in the 2024 Globe and Mail evaluation and 13 consecutive years on the Dow Jones Best-In-Class World Index. Growth strategies, such as acquiring Iowa Northern Railway and investing in Northeast British Columbia, highlight Canadian National Railway Company’s focus on expanding capacity and supporting customers.
Business Segments
Canadian National Railway Company operates as a single business segment, managing its rail network across Canada and the U.S. The President and CEO evaluates performance using metrics like net income and diluted earnings per share. Strategic initiatives—Sustain and Build Service Excellence, Grow Our Business, and Grow Our People—are managed centrally and executed through three regional centers: Western Region, Eastern Region, and U.S. Region.
Single Segment: Rail Transportation
- Description: Canadian National Railway Company’s core business is freight transportation over its 20,000-mile network, moving goods like grain, fertilizers, minerals, metals, manufactured products, and energy commodities (propane, natural gas liquids). The network connects seven major ports and 21 inland intermodal terminals, supporting global trade. Services include rail, intermodal, trucking, marine, bulk handling, transloading, and customs brokerage.
- Operational Model: The “Make the Plan, Run the Plan, Sell the Plan” model aligns resources with customer demand. Regional centers handle daily service, while corporate management oversees strategy, marketing, and resources.
- Performance Metrics (2024):
- Car Velocity: 209 miles per day (2% decrease from 2023).
- Dwell Time: 7.0 hours (stable from 2023).
- Local Service Commitment Plan (LSCP): 94% performance, improved from prior years.
- Customer Loyalty: Best-ever Net Promoter Survey scores.
- Revenue Contribution (2024): 100% of total revenues ($17.046 billion), as revenues are not split by region or commodity due to integrated operations.
Revenue Breakup by Geography (2024):
- Canada: $11.875 billion (69.6%)
- U.S.: $5.171 billion (30.4%)
- Total: $17.046 billion (100%)
Products and Services Offered
Canadian National Railway Company offers a range of transportation and supply chain services, leveraging its rail network and logistics capabilities. Below is a list of services with estimated revenue contributions.
1. Rail Transportation
- Description: Core service moving freight via rail across the 20,000-mile network, including grain, fertilizers, forest products, minerals, metals, propane, and natural gas liquids.
- Details: Uses scheduled railroading for on-time delivery, handling 15,000 shipments daily for national accounts across commodity groups.
- Revenue Contribution: Primary contributor, estimated at ~80% of revenues ($13.637 billion).
2. Intermodal Services
- Description: Combines rail with other modes (e.g., truck, ship) through 21 inland intermodal terminals.
- Details: Supports domestic and international shipments, with the Chicago bypass loop saving up to 48 hours. Key for trade via seven major ports.
- Revenue Contribution: Estimated at ~15% of revenues ($2.557 billion).
3. Trucking and Marine Services
- Description: Logistics services for first-mile and last-mile delivery.
- Details: Trucking provides door-to-door connectivity; marine services handle bulk at ports like Prince Rupert.
- Revenue Contribution: Estimated at ~3% of revenues ($0.511 billion).
4. Transloading and Bulk Handling
- Description: Facilities like MacMillan Yard in Toronto manage rail-to-tank and tank-to-truck transfers.
- Details: Handles tens of thousands of carloads annually, with new facilities like Chetwynd, BC, for frac sand.
- Revenue Contribution: Estimated at ~1.5% of revenues ($0.256 billion).
5. Customs Brokerage
- Description: Facilitates cross-border shipments, ensuring Canada-U.S. trade compliance.
- Details: Streamlines international customer operations.
- Revenue Contribution: Estimated at ~0.5% of revenues ($0.085 billion).
Total Revenue (2024): $17.046 billion (100%)
- Note: Revenue percentages are estimated, as Canadian National Railway Company manages revenues holistically without product-level splits.
Company History
Founded in 1919, Canadian National Railway Company has grown from a Canadian railway into a North American transportation leader, marked by expansion and innovation.
- 1919: Established as a Crown corporation, consolidating Canadian railways into a national network.
- 1920s-1950s: Expanded across Canada, connecting rural and urban areas, and supported World War II logistics.
- 1960s-1980s: Modernized with diesel locomotives and automation, extending U.S. services through partnerships.
- 1995: Privatized, becoming publicly traded on TSX and NYSE, enabling infrastructure and technology investments.
- 2000s: Acquired U.S. railroads like Illinois Central, forming a three-coast network. Introduced scheduled railroading for efficiency.
- 2010s: Invested in safety technologies (e.g., ATIP, wayside detectors) and sustainability, earning Dow Jones Sustainability Index recognition. Expanded intermodal and transload capabilities.
- 2020s: Recommitted to scheduled railroading with “Make the Plan, Run the Plan, Sell the Plan.” Acquired Iowa Northern Railway (2024), adding 175 route miles. Launched Indigenous Reconciliation Action Plan (2024) for community partnerships. Managed labor disruptions and wildfires resiliently.
Canadian National Railway Company’s century-long history reflects adaptability, with safety, service, and sustainability as core pillars.
Brands
Canadian National Railway Company operates under a single brand, “Canadian National Railway Company,” with no sub-brands or product-specific brands noted.
Canadian National Railway Company Brand
- Description: Represents the company’s identity as a rail and logistics leader, emphasizing safety, reliability, and sustainability.
- Details: Unified across all services, reinforced through initiatives like Rail Safety Week, Climate Action Plan, and Indigenous Reconciliation Action Plan.
- Revenue Contribution: 100% of revenues ($17.046 billion), as all services are marketed under this brand.
Geographical Presence
Canadian National Railway Company’s network spans Canada and the U.S., connecting economic hubs. Below is a breakdown of its presence and revenue distribution.
Canada
- Coverage: Eight provinces (British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, New Brunswick, Nova Scotia).
- Key Locations:
- Vancouver and Prince Rupert, BC: Pacific ports for global trade, with frac sand terminals and natural gas liquids exports.
- Kamloops, BC: Corridor with siding extensions and firefighting train deployments.
- Prince George, BC: Track maintenance hub.
- Toronto, ON: MacMillan Yard fuel distribution center, a transload facility.
- Montreal, QC: Corporate headquarters and rail hub.
- Details: Canada’s transcontinental railway, connecting coasts. Investments in Northeast British Columbia and Prince Rupert enhance trade.
- Revenue (2024): $11.875 billion (69.6%).
United States
- Coverage: 16 states, focusing on Midwest and Gulf Coast.
- Key Locations:
- Chicago, IL: Bypass loop reduces transit time; intermodal hub.
- LaSalle, IL: Matthiessen & Hegeler Zinc Company Site (environmental remediation).
- Iowa: Iowa Northern Railway (175 route miles), acquired in 2024, serving grain, fertilizer, and renewable fuels.
- Gulf Coast: Connects to ports for energy and industrial shipments.
- Details: U.S. operations integrate with Canadian routes for single-line market access. Iowa Northern strengthens agricultural and industrial connectivity.
- Revenue (2024): $5.171 billion (30.4%).
Total Revenue (2024): $17.046 billion (100%)
Financial Statements
Below are consolidated financial statements for 2024 in tables, with rows containing only “N/A” data removed, based on available data.
Consolidated Profit & Loss Statement (2024)
| Item | 2024 ($M) | 2023 ($M) | 2022 ($M) |
|---|---|---|---|
| Revenues | 17,046 | 16,828 | 17,107 |
| Environmental Expenses | 47 | 32 | 31 |
| Diluted EPS | 7.01 | – | – |
| Adjusted Diluted EPS | 7.10 | – | – |
Consolidated Balance Sheet (As at Dec 31, 2024)
| Liabilities | 2024 ($M) | 2023 ($M) |
|---|---|---|
| Debt (excl. Finance Leases) | 20,887 | 18,435 |
| Personal Injury Provisions (Canada) | 165 | 180 |
| Personal Injury Provisions (U.S.) | 119 | 131 |
| Environmental Provisions | 86 | 88 |
Consolidated Cash Flow Statement (2024)
| Item | 2024 ($M) | 2023 ($M) | 2022 ($M) |
|---|---|---|---|
| Operating Activities | |||
| Environmental Payments | (19) | (19) | (26) |
| Personal Injury Payments (Canada) | (56) | (32) | (30) |
| Personal Injury Payments (U.S.) | (65) | (28) | (39) |
| Treasury Lock Settlement | (15) | 97 | – |
| Investing Activities | |||
| Environmental Capital Expenditures | 27 | 13 | 19 |
Notes: Limited financial data provided; only rows with specific values included.
Subsidiaries, Wholly-Owned Subsidiaries, and Associates
The document mentions one subsidiary and one wholly-owned subsidiary, with no associates.
Subsidiary: Unnamed Subsidiary (Matthiessen & Hegeler Zinc Company Site)
- Details: Notified by U.S. EPA as a potentially responsible party for remediation in LaSalle, Illinois. Historical land holdings leased for commercial/industrial uses may have contributed to contamination. No liability accrued as of Dec 31, 2024.
- Revenue Contribution: Not specified; assumed negligible.
Wholly-Owned Subsidiary: Iowa Northern Railway
- Details: Acquired in 2024, adding 175 route miles. Serves grain, fertilizer, renewable fuels, and industrial sectors, enhancing market access. Integrated into U.S. operations.
- Revenue Contribution: Included in U.S. revenues ($5.171 billion, 30.4%).
Physical Properties
Canadian National Railway Company’s properties include its rail network, terminals, yards, and headquarters.
1. Corporate Headquarters
- Location: 935 de La Gauchetière Street West, Montreal, Quebec H3B 2M9.
- Details: Administrative hub for Public and Government Affairs.
2. Rail Network
- Description: 20,000 route miles across Canada and the U.S.
- Key Infrastructure:
- Kamloops, BC: 2024 siding extension for Vancouver corridor capacity.
- Chicago, IL: 2024 double track for train throughput.
- Iowa: 175 route miles via Iowa Northern.
- Rolling Stock (2024): 750 grain hopper cars, 500 boxcars, 600 iron ore cars, 150 bi-level autoracks.
3. Intermodal Terminals
- Description: 21 terminals for rail-truck-ship transfers.
- Key Example: Chicago bypass loop, saving 48 hours.
4. Transload Facilities
- MacMillan Yard, Toronto, ON: 2024 fuel distribution center; phase two under construction (Q4 2025).
- Chetwynd, BC: 2024 frac sand unit train facility.
5. Firefighting Fleet
- Description: Trains and railcars for wildfire mitigation, deployed in Jasper, AB, in 2024.
Founders Details
No specific founders are named, as Canadian National Railway Company was established in 1919 as a Crown corporation, consolidating railways under government initiative.
Future Investment Plan
Canadian National Railway Company’s future investments focus on network expansion, safety, and customer growth.
- MacMillan Yard Phase Two (Toronto, ON): Doubles capacity by Q4 2025 with six tracks and five tanks.
- Northeast British Columbia: Frac sand terminals planned for 2025.
- Rolling Stock: Continued railcar investments.
- Safety Technologies: Expansion of ATIP, wayside detectors, AIPs.
- Capital Expenditures (2024):
- Environmental: $27 million.
Conclusion
Canadian National Railway Company is a vital part of North America’s economy, delivering reliable, safe, and sustainable transportation solutions via its 20,000-mile network. With a century-long legacy, disciplined operations, and strategic investments, Canadian National Railway Company is positioned for growth, creating value for customers, employees, and shareholders.
