Rail traffic

Canadian National Railway (CNI) recorded a 1.7% YoY (year-over-year) improvement in its overall rail traffic in Week 11. The company hauled 113,505 railcars, containers, and trailers in the week compared to 111,572 units in the same week of the previous year.

How Canadian National’s Rail Traffic Trended in Week 11

Canadian National was the top volume gainer among Class I railroad companies, followed by CSX (CSX) and Norfolk Southern (NSC), which recorded volume growth of 1% and 0.3%, respectively. BNSF Railway was the worst performer, registering a volume decline of 13.5% during the week.

Canadian National Railway reported traffic growth across its carloads and intermodal units. The company’s carload traffic grew 0.8% YoY in Week 11 to 63,309 railcars from 62,786 railcars. It registered volume gains across the petroleum, chemicals, metallic ores, grain, and coke commodity groups. Commodity groups such as forest products, automotive, nonmetallic minerals, metals, and coal recorded massive volume declines.

Canadian National Railway’s carload traffic, excluding coal and coke, grew 1.5% YoY to 57,880 railcars from 57,031 railcars. The company’s coal and coke traffic fell 5.7% YoY to 5,429 units from 5,755 units in Week 11 of 2018. Kansas City Southern (KSU) recorded the highest gain in carload traffic at 8.9%.

Intermodal traffic

Canadian National Railway’s intermodal volumes grew 2.9% YoY to 50,196 containers and trailers from 48,786 units. Among all Class I railroad companies (XLI), Norfolk Southern was the highest gainer in Week 11. NSC registered YoY growth of 3.5% in its intermodal volumes.

For the first 11 weeks, Canadian National reported cumulative volumes of 672,537 carloads—up 1.6% from the same period last year. The company’s intermodal units inched up 0.2% YoY to 527,587 containers and trailers. Canadian National Railway’s combined rail traffic in the first 11 weeks of 2019 inched up 1% YoY to ~1.2 million carloads and intermodal units compared to the previous year.

Latest articles

WeWork is gearing up for an IPO. On Wednesday, the company made its IPO filing with the SEC public and expects to garner $3.5 billion from its IPO.

After FCC Chairman Ajit Pai recommended the approval of the T-Mobile–Sprint merger, Representative David Cicilline urged the FCC to allow public comment.

Cresco Labs (CRLBF) is set to report its Q2 earnings on August 21 after the market closes. The company's stock fell 5.3% yesterday.

Cannabis stocks mostly traded in positive territory today. Supreme Cannabis (FIRE) and Aurora Cannabis (ACB) rose about 9.5% and 5.5%, respectively.

NVIDIA (NVDA) stock soared 6% in today’s trading session as its Q2 earnings for fiscal 2020 beat estimates. However, its guidance missed estimates.

Nio Inc. (NIO) has disrupted the automotive space since 2014 but only made waves in the market since its IPO. Investors have suffered numerous setbacks.