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Canadian National Railway Q1 2022 Earnings Call - Transcript

Canadian National's Q1 net income falls to C$918M from C$976M year-over-year and operating income falls 11% to C$1.23B from C$1.33B; revenue rises 5% to C$3.71B from C$3.54B due to higher fuel surcharge, freight rates and higher export volumes of US grain

Scotia Capital reaffirms Canadian National at sector outperform and lifts target by C$4 to C$174, prefers CN over Canadian Pacific in near term for stronger EPS outlook; CP viewed as more of a late-2022 story given its greater exposure to bulk commodities

Canadian National honors 241 companies with the 2021 Safe Handling Award, which recognizes customers who load freight cars with dangerous goods and meet the standards for safe handling and shipment; honorees include Dow Chemical, Evonik Corp., Hexion

Paper Excellence thanks Government of Saskatchewan for its support regarding Canadian National's lack of rail service at its pulp mill in Meadow Lake; company says provincial government advocated issue to Canadian government, Minister of Transport

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