UPDATE - CN Outlines Three-year Financial Perspective
May 03, 2023 at 19:15 PM EDT
CHICAGO, May 03, 2023 (GLOBE NEWSWIRE) -- CN’s (TSX: CNR) (NYSE: CNI) press release issued this morning is being corrected to clarify that the reference to CN’s 2024-2026 financial perspective refers to diluted EPS CAGR over the next three years. The revised press release is below.
CN Outlines Three-year Financial Perspective
Chicago, May 3, 2023 — Today, CN’s (TSX: CNR) (NYSE: CNI) executive team will meet with the investment community in Chicago to present the Company’s strategic agenda focused on accelerating sustainable, profitable growth.
“We are confident in what the future holds for CN. The path to sustainable and profitable growth is clear. We have the proven record of our operating model combined with our integrated approach and the right people to see it through. The future of railroading is here, and it starts now.”
Key CN executives will present at the event. Their presentations will focus on safety, how they will maintain discipline in executing CN’s scheduled operating plan, how they plan to capture emerging opportunities by selling into the plan, as well as how they intend to use technology to drive incremental efficiencies and make it easier for customers to do business with CN.
2023 financial outlook (1)
2024-2026 financial perspective (1)
(1) Forward-looking statements
2023 key assumptions
2024-2026 key assumptions
Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and other factors which may cause actual results, performance or achievements of CN to be materially different from the outlook or any future results, performance or achievements implied by such statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements. Important risk factors that could affect the forward-looking statements in this news release include, but are not limited to, general economic and business conditions, including factors impacting global supply chains such as pandemics and geopolitical conflicts and tensions; the business opportunities underlying the three-year financial perspective may not fully materialize; industry competition; inflation, currency and interest rate fluctuations; changes in fuel prices; legislative and/or regulatory developments; compliance with environmental laws and regulations; actions by regulators; increases in maintenance and operating costs; security threats; reliance on technology and related cybersecurity risk; trade restrictions or other changes to international trade arrangements; transportation of hazardous materials; various events which could disrupt operations, including illegal blockades of rail networks, and natural events such as severe weather, droughts, fires, floods and earthquakes; climate change; labor negotiations and disruptions; environmental claims; uncertainties of investigations, proceedings or other types of claims and litigation; risks and liabilities arising from derailments; timing and completion of capital programs; the availability of and cost competitiveness of renewable fuels and the development of new locomotive propulsion technology; and other risks detailed from time to time in reports filed by CN with securities regulators in Canada and the United States. Reference should also be made to Management’s Discussion and Analysis in CN’s annual and interim reports, Annual Information Form and Form 40-F, filed with Canadian and U.S. securities regulators and available on CN's website, for a description of major risk factors relating to CN.
Forward-looking statements reflect information as of the date on which they are made. CN assumes no obligation to update or revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs, unless required by applicable securities laws. In the event CN does update any forward-looking statement, no inference should be made that CN will make additional updates with respect to that statement, related matters, or any other forward-looking-statement. Information contained on, or accessible through, our website is not part of this news release.
(2) Caution Regarding Non-GAAP Measures
CN’s 2023 full-year adjusted diluted EPS (1) outlook and the 2024-2026 financial perspective exclude certain adjustments, which are expected to be comparable to adjustments made in prior years. However, management cannot individually quantify on a forward-looking basis the impact of these adjustments on its adjusted diluted EPS because these items, which could be significant, are difficult to predict and may be highly variable. As a result, CN does not provide a corresponding GAAP measure for, or reconciliation to, its adjusted diluted EPS outlook.