Canadian National Railway Company (CNI) is a leading global transportation front-runner and it enables the trade in different regions. The company transports approximately transports 300 million tons of goods safely throughout US. Vessels and docks facilities are also provided by the company along with transport management platforms.
The price of CNI stock during the regular trading on January 25, 2022, was $122.46 with an incline of 0.72%. At last check in the aftermarket the stock went down by 5.28%.
CNI: Events and Happenings
On January 25, 2022, CNI reported about its entry into Resolution Contract with TCI and CIFF Capital. The company also notified changes in the Board by its commitment regarding the appointment of Directors to its Board.
On January 25, 2022, CNI reported about appointing Tracy Robinson as the company’s new CEO with effect from February 28, 2022. On January 25, 2022, CNI reported about the approval of reacquisition of its shares by BoDs via new bid. The company also increased its outstanding common shares dividend of 2022 to 19%.
CNI: Key Financials
On January 25, 2022, CNI reported its financial results for the fourth quarter ended December 31, 2021. Some of the key updates are as follows.
Revenue
Total revenue in Q4 2021 was recorded to be Canadian $3,753 million compared to C$3656 million in same quarter prior year.
Net Income per Share
Diluted net income per share in Q4 2021 was C$1199 million or C$1.69 versus C$1021 million or C$1.43 in the same period prior year.
On January 13, 2022, CNI reported about its intention to file an open application notification for reviewing the Kansas City Southern and Canadian Pacific combination on February 28, 2022.
On December 21, 2021, CNI reported about the approval of auction of non-core assets and rail lines in Michigan and Wisconsin by the US STB. The company was also involved in selling its Soo subdivision.
On December 14, 2021, CNI co-reported with Google Cloud about their entry into a seven years strategic collaboration for the transformation of its supply chain. The company is aiming to digitalize and modernize its technology infrastructure.
Conclusion
CNI stock is outperforming from the last six months period as it surged by 16% due to the thorough policies of the company. The current aftermarket stock dip is likely the result of company’s resolution contract with TCI. The analysts believe that the company should focus on investor relation building to improve its stocks stats.
