UPDATE – CN outlines three-year monetary outlook, The Canadian Enterprise Journal

information launch
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CHICAGO, Could 3, 2023 (GLOBE NEWSWIRE) — CN (TSX: CNR) (NYSE: CNI) issued a press launch this morning that referred to CN’s 2024-2026 monetary outlook for the following dilution. Corrected to make clear that we’re referring to EPS CAGR. 3 years. The revised model of the press launch is beneath.

CN outlines three-year monetary outlook

CHICAGO, Could 3, 2023 — Right now, CN (TSX: CNR) (NYSE: CNI) administration met with Chicago’s funding neighborhood to debate the corporate’s deal with accelerating sustainable, worthwhile development. presents the strategic agenda for

“We’re assured in CN’s future. The trail to sustainable and worthwhile development is evident. We have now a confirmed monitor file.The way forward for rail is right here and begins now.”
– Tracy Robinson, President and Chief Government Officer, CN

Key CN executives will attend the occasion. Their displays coated security, methods to keep self-discipline in executing CN’s scheduled operations plan, methods to seize new alternatives by promoting to the plan, and methods to use know-how to extend effectivity and enhance it. Deal with methods to make it simpler. Buyer transacts with CN.

2023 Monetary Outlook (1)
CN continues to focus on mid-single-digit adjusted diluted earnings per share (EPS) development in 2022(2).

Monetary Outlook 2024-2026 (1)
CN is focusing on a ten% to fifteen% diluted EPS compound annual development price (CAGR) over the following three years. That is by growing quantity above the economic system, pricing above rail inflation, and incrementally enhancing effectivity.

(1) Ahead-looking statements
Sure statements contained on this information launch represent “forward-looking statements” inside the that means of the U.S. Personal Securities Litigation Reform Act of 1995 and the Canadian Securities Act, and we don’t anticipate CN’s 2023 monetary outlook and three-year forecast. monetary projections and associated key assumptions; This forward-looking info contains, however just isn’t restricted to, statements primarily based on administration’s assessments and assumptions and publicly accessible details about CN. Ahead-looking statements by their nature contain dangers, uncertainties and assumptions. CN cautions that its assumptions might not materialize and present financial situations entail larger uncertainty, even when the assumptions had been cheap on the time they had been made. forward-looking statements are recognized by way of phrases akin to “consider,” “count on,” “anticipate,” “assume,” “outlook,” “plan,” “goal,” or different comparable phrases. could also be

Key Assumptions for 2023
CN makes quite a few financial and market assumptions in getting ready its 2023 outlook. We count on North American industrial manufacturing to stay destructive in 2023. The US grain harvest was in keeping with the three-year common. We proceed to count on her 2023/2024 grain crops in Canada and the US to match his three-year averages respectively (her 2021/2022 crop 12 months in Canada besides that it decreased). CN assumes continued pricing above rail inflation at contract renewals. CN assumes that the Canadian greenback can be value roughly $0.75 in U.S. forex in 2023, and at present assumes that the common value of crude oil (West Texas Intermediate) can be roughly $80 per barrel (2023 24 January 2020 assumptions) vary from roughly USD 75 to USD 80 per barrel).

Key Assumptions for 2024-2026
CN makes quite a few financial and market assumptions in getting ready its three-year monetary outlook. CN estimates that industrial manufacturing in North America will improve by about 2% yearly over the following three years. CN assumes continued pricing above rail inflation. CN assumes that the Canadian greenback can be value roughly $0.75 in US forex throughout this era and that the common value of crude oil (West Texas Intermediate) can be roughly $80 per barrel.

Ahead-looking statements will not be ensures of future efficiency and CN’s precise outcomes, efficiency or achievements might not materially differ from forecasts or any future outcomes, efficiency or achievements implied by such statements. Topic to dangers, uncertainties and different elements which will differ. Readers are subsequently suggested to not place undue reliance on forward-looking statements. Vital danger elements which will have an effect on the forward-looking statements on this information launch embody basic financial and Enterprise conditions embody, however will not be restricted to: The enterprise alternatives underlying the three-year monetary outlook will not be absolutely realized. trade competitors; fluctuations in inflation, forex and rates of interest; adjustments in gasoline costs; legislative and/or regulatory developments; actions by regulators; elevated upkeep and working prices; safety threats; know-how reliance and related cybersecurity dangers; Commerce restrictions or different adjustments to worldwide commerce agreements. transportation of harmful items; numerous occasions which will disrupt operations, akin to unlawful blockades of railroad networks and pure phenomena akin to extreme climate, droughts, fires, floods and earthquakes. local weather change; labor negotiations and disruption; environmental claims; uncertainty in investigations, proceedings, or different varieties of claims and litigation; Dangers and liabilities arising from derailment. Timing and completion of capital packages. Availability and price competitiveness of renewable fuels and improvement of latest locomotive propulsion applied sciences. Different dangers are detailed infrequently in CN’s filings with securities regulators in Canada and the US. See additionally Administration’s Dialogue and Evaluation in CN’s Annual and Interim Reviews, Annual Data Kinds and Type 40-F for an outline of the important thing danger elements related to CN.

Ahead-looking statements replicate info as of the date they’re made. CN undertakes no obligation to replace or revise any forward-looking statements to replicate future occasions, adjustments in circumstances or perception, besides as required by relevant securities legal guidelines. If CN updates any forward-looking assertion, no inference must be taken that CN will make extra updates to that assertion, any associated matter or every other forward-looking assertion. The knowledge contained in or accessible from our web site just isn’t a part of this information launch.

(2) Notes on non-GAAP measures
CN experiences monetary ends in accordance with US Typically Accepted Accounting Rules (GAAP). CN additionally makes use of a non-GAAP measure of adjusted diluted earnings per share on this information launch that doesn’t have a standardized that means prescribed by his GAAP. This non-GAAP measure will not be corresponding to comparable measures supplied by different corporations. For extra info on this non-GAAP measure, together with reconciliations to probably the most straight comparable GAAP monetary measures, please see the supplemental schedule entitled 2022 Non-GAAP Measures accessible at www.cn.ca/en/financial-results. Please discuss with. .

CN’s full-year 2023 adjusted diluted EPS(1) steering and 2024-2026 monetary steering exclude sure changes. Nonetheless, administration can not independently quantify the affect of those changes on adjusted diluted EPS on a forward-looking foundation. In consequence, CN doesn’t present a corresponding GAAP measure or adjustment for its adjusted diluted EPS outlook.

About CN
CN is a world-class transportation chief and commerce enabler. CN is important to the economic system, prospects and communities it serves, transporting greater than 300 million tons of pure sources, merchandise and completed items safely all through North America every year. CN’s Railroad connects the east and west coasts of Canada with the southern United States by an 18,600-mile rail community, and since 1919, CN and its associates have contributed to the prosperity of the neighborhood and sustainable commerce. CN is dedicated to packages that assist social duty and environmental stewardship.

contact handle:

media	funding neighborhood
Jonathan Abekasis	Stacey Alderson
senior supervisor	Interim Assistant to the Vice President
Media contact level	PR for traders
438-455-3692 [email protected]	(514) 399-0052 [email protected]

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