Latest news with #JanetDrysdale
Yahoo
5 days ago
- Business
- Yahoo
Trade disputes hit CN volumes and prompt railway to cut outlook
Canadian National lowered its outlook for the year — and pulled its longer-term guidance Tuesday — in response to ongoing trade- and tariff-related economic uncertainty. CN (NYSE: CNI) delivered the news while releasing its second-quarter financial results, which included higher operating income despite lower revenue and flat volume. 'A few months ago, trade deals seemed imminent. And instead there is an increasing uncertainty around the tariff and trade environment, particularly in Canada,' CEO Tracy Robinson told investors and analysts on the company's earnings call. The current and threatened U.S. tariffs on Canada include a 35% tariff on various Canadian goods set to take effect on Aug. 1, alongside existing tariffs of 25% on certain imports and 50% on steel and aluminum. The trade disputes, along with softening economic conditions, have had a negative impact on CN's forest products, metals, international intermodal, and automotive traffic. Overall for the quarter, volume was down 1% based on revenue ton-miles and flat when measured by carloads and containers. Strong bulk volumes — including grain and potash — and domestic intermodal growth were unable to offset declines in international intermodal and merchandise volume, said Janet Drysdale, interim chief commercial officer. Although grain and fertilizer revenue was up 12%, revenue declined in intermodal, automotive, and every merchandise segment. As volume softened, CN took steps to reduce costs, including furloughing train crews and storing locomotives. 'This team has proactively and progressively adjusted the operating plan resources throughout the quarter, maintaining good tensions between costs and network fluidity and performance,' Robinson said. As a result, operating income increased 5%, to $1.2 billion, as revenue declined 1%, to $3.13 billion. Earnings per share rose 7%, to $1.37. The railway's operating ratio improved 2.3 points, to 61.7%. CN trimmed its $2.5 billion capital budget by $36.7 million. CN now expects to deliver earnings per share growth of between 5% and 9%, down from previous guidance of 10% to 15% growth. And the railway withdrew its 2024-2026 outlook, which was drawn up prior to trade disputes that have weighed on the railway's merchandise and intermodal volumes. Further complicating CN's financial outlook: Unfavorable exchange rates that have a negative impact on earnings per share. Nonetheless, CN still expects several growth projects in Western Canada to come online as expected over the next couple of years. Derek Taylor, CN's chief field operations officer, said CN ratched down costs as merchandise volume declined. At the end of the quarter, 560 train and engine crew members were on furlough, 200 locomotives were parked, and 4,000 additional freight cars were stored. The railway continued to run well, with car-miles per day, through dwell, and local service all improving over last year's second quarter. Subscribe to FreightWaves' Rail e-newsletter and get the latest insights on rail freight right in your aims to grow carload traffic with rail service upgrades Report: Goldman Sachs advising BNSF on potential merger Analysis: UP-NS rail merger spotlights individual legacies in a legacy business Union Pacific, Norfolk Southern in merger talks: WSJ The post Trade disputes hit CN volumes and prompt railway to cut outlook appeared first on FreightWaves.
Yahoo
21-07-2025
- Business
- Yahoo
CN Announces Janet Drysdale as Interim Chief Commercial Officer
Veteran CN executive to step into key commercial role MONTREAL, July 21, 2025 (GLOBE NEWSWIRE) -- CN (TSX: CNR) (NYSE: CNI) announced today that Janet Drysdale will assume the role of Chief Commercial Officer on an interim basis, effective immediately. Janet is stepping into the role following the departure of Remi G. Lalonde. Janet spent the first decade of her nearly 30-year career at CN in a variety of roles in Sales and Marketing. She is a seasoned and versatile leader with significant cross-functional experience having held executive positions at CN in Investor Relations, Finance, Corporate/Business Development, Sustainability, and most recently as Chief Stakeholder Relations Officer. "I am very pleased that Janet will be leading our commercial team during this critical time. Janet's depth of experience in sales and marketing, steady hand, and drive for results will provide strong leadership for the commercial team. I look forward to working closely with her as we accelerate the execution of our growth agenda,' said Tracy Robinson, President and Chief Executive Officer at CN. "I thank Remi for his contributions to CN." The Chief Commercial Officer role is a critical executive position overseeing CN's strong and experienced team responsible for sales and marketing. The appointment of a permanent Chief Commercial Officer is a priority. Biographical Notes Janet is an independent director of Rumo S.A., Brazil's largest freight railway. She is Chair of the Board of the Railway Association of Canada, and she sits on the Board of the Canadian American Business Council. Ms. Drysdale holds an Honours Bachelor of Science degree from Queen's University and an MBA from McGill University. Ms. Drydale also holds the Global Competent Boards Designation (GCB.D). About CNCN powers the economy by safely transporting more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year for its customers. With its nearly 20,000-mile rail network and related transportation services, CN connects Canada's Eastern and Western coasts with the U.S. Midwest and the U.S. Gulf Coast, contributing to sustainable trade and the prosperity of the communities in which it operates since 1919. Jonathan Abecassis Stacy Alderson Director, Public Affairs and Assistant Vice-President Media Relations Investor Relations (438) 455-3692 (514) 399-0052 media@
Yahoo
21-07-2025
- Business
- Yahoo
CN Announces Janet Drysdale as Interim Chief Commercial Officer
Veteran CN executive to step into key commercial role MONTREAL, July 21, 2025 (GLOBE NEWSWIRE) -- CN (TSX: CNR) (NYSE: CNI) announced today that Janet Drysdale will assume the role of Chief Commercial Officer on an interim basis, effective immediately. Janet is stepping into the role following the departure of Remi G. Lalonde. Janet spent the first decade of her nearly 30-year career at CN in a variety of roles in Sales and Marketing. She is a seasoned and versatile leader with significant cross-functional experience having held executive positions at CN in Investor Relations, Finance, Corporate/Business Development, Sustainability, and most recently as Chief Stakeholder Relations Officer. "I am very pleased that Janet will be leading our commercial team during this critical time. Janet's depth of experience in sales and marketing, steady hand, and drive for results will provide strong leadership for the commercial team. I look forward to working closely with her as we accelerate the execution of our growth agenda,' said Tracy Robinson, President and Chief Executive Officer at CN. "I thank Remi for his contributions to CN." The Chief Commercial Officer role is a critical executive position overseeing CN's strong and experienced team responsible for sales and marketing. The appointment of a permanent Chief Commercial Officer is a priority. Biographical Notes Janet is an independent director of Rumo S.A., Brazil's largest freight railway. She is Chair of the Board of the Railway Association of Canada, and she sits on the Board of the Canadian American Business Council. Ms. Drysdale holds an Honours Bachelor of Science degree from Queen's University and an MBA from McGill University. Ms. Drydale also holds the Global Competent Boards Designation (GCB.D). About CNCN powers the economy by safely transporting more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year for its customers. With its nearly 20,000-mile rail network and related transportation services, CN connects Canada's Eastern and Western coasts with the U.S. Midwest and the U.S. Gulf Coast, contributing to sustainable trade and the prosperity of the communities in which it operates since 1919. Jonathan Abecassis Stacy Alderson Director, Public Affairs and Assistant Vice-President Media Relations Investor Relations (438) 455-3692 (514) 399-0052 media@ in to access your portfolio
Toronto Star
21-07-2025
- Business
- Toronto Star
CN Announces Janet Drysdale as Interim Chief Commercial Officer
MONTREAL, July 21, 2025 (GLOBE NEWSWIRE) — CN (TSX: CNR) (NYSE: CNI) announced today that Janet Drysdale will assume the role of Chief Commercial Officer on an interim basis, effective immediately. Janet is stepping into the role following the departure of Remi G. Lalonde. Janet spent the first decade of her nearly 30-year career at CN in a variety of roles in Sales and Marketing. She is a seasoned and versatile leader with significant cross-functional experience having held executive positions at CN in Investor Relations, Finance, Corporate/Business Development, Sustainability, and most recently as Chief Stakeholder Relations Officer.
Hamilton Spectator
21-07-2025
- Business
- Hamilton Spectator
CN Announces Janet Drysdale as Interim Chief Commercial Officer
MONTREAL, July 21, 2025 (GLOBE NEWSWIRE) — CN (TSX: CNR) (NYSE: CNI) announced today that Janet Drysdale will assume the role of Chief Commercial Officer on an interim basis, effective immediately. Janet is stepping into the role following the departure of Remi G. Lalonde. Janet spent the first decade of her nearly 30-year career at CN in a variety of roles in Sales and Marketing. She is a seasoned and versatile leader with significant cross-functional experience having held executive positions at CN in Investor Relations, Finance, Corporate/Business Development, Sustainability, and most recently as Chief Stakeholder Relations Officer. 'I am very pleased that Janet will be leading our commercial team during this critical time. Janet's depth of experience in sales and marketing, steady hand, and drive for results will provide strong leadership for the commercial team. I look forward to working closely with her as we accelerate the execution of our growth agenda,' said Tracy Robinson, President and Chief Executive Officer at CN. 'I thank Remi for his contributions to CN.' The Chief Commercial Officer role is a critical executive position overseeing CN's strong and experienced team responsible for sales and marketing. The appointment of a permanent Chief Commercial Officer is a priority. Biographical Notes Janet is an independent director of Rumo S.A., Brazil's largest freight railway. She is Chair of the Board of the Railway Association of Canada, and she sits on the Board of the Canadian American Business Council. Ms. Drysdale holds an Honours Bachelor of Science degree from Queen's University and an MBA from McGill University. Ms. Drydale also holds the Global Competent Boards Designation (GCB.D). About CN CN powers the economy by safely transporting more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year for its customers. With its nearly 20,000-mile rail network and related transportation services, CN connects Canada's Eastern and Western coasts with the U.S. Midwest and the U.S. Gulf Coast, contributing to sustainable trade and the prosperity of the communities in which it operates since 1919.
