$CNI

Canadian National Railway (CN) said it advanced its hybrid locomotive program after a pilot. CN is testing three hybrid locomotives and plans to convert two more into hybrid-electric units with AC traction by end-2026. The pilot reportedly improved fuel efficiency up to 50% and reduced engine failures and idling. CN expects better efficiency, reliability, and lower emissions.

Canadian National Railway (CNI) reported record grain volumes for the 2025-26 crop year, moving over 33.8 million metric tons from Western Canada, above the prior record 32.6 million metric tons. It also cited a July record of 2.62 million metric tons. CNI shares are up 34.5% over the past year.

Simply Wall St says new US customs rules could raise tariffs on Canadian exports to as high as 50% from Aug 19, 2026, increasing cross-border risk. It highlights Canadian National Railway (CA$17.8b revenue, ~CA$106.6b market cap), West Fraser Timber (~CA$7.9b), and Saputo (~CA$16.1b) as exposed to US demand and trade uncertainty.

Canadian National Railway (CN) raised its full-year 2026 freight volume outlook, citing firmer demand and shifting economic conditions, after reporting higher Q2 profit and revenue, according to the Wall Street Journal. Norfolk Southern also reported higher Q2 revenue on improving demand trends. The article also notes DP World’s planned UAE terminal expansion and the Port of Long Beach considering an on-site nuclear reactor.

Canadian National Railway raised its 2026 freight volume outlook after reporting higher Q2 profit and revenue, citing firmer demand and changing economic conditions, according to the Wall Street Journal. Norfolk Southern also reported higher Q2 revenue and adjusted EPS of $3.52, despite merger and derailment-related costs. DP World agreed to build two Fujairah terminals under a 50-year concession, and Long Beach is exploring a nuclear reactor.

Canada’s Competition Bureau approved the proposed merger of Canadian National Railway Co. and Wisconsin Central Transportation Corp., saying the U.S. Surface Transportation Board should decide. STB said May 9 the deal is a minor transaction. If approved, CN would pay $17.15 per WC share for 46.5 million shares, about $800 million, plus repay $400 million debt, totaling about $1.2 billion, with closing mid-October.

Canadian National Railway (CN) said it supports 300+ shipper development projects in North America. In 2025 it brought 70+ customer projects into service, totaling over CA$2 billion in customer investment. In 2026 it added 30 projects and expects 70 more into early 2027. CN plans CA$2.8 billion in 2026 capital projects, including a new bridge at Prince Rupert and double tracking in Glen Valley.

CN (NYSE:CNI, TSX:CNR) published its 2026–2027 Grain Plan, saying it achieved 10 months of record grain movement in the 2025–2026 crop year. For 2026–2027, CN expects to move 30–33 million metric tonnes of grain and processed grain products versus stated maximum sustainable end-to-end capacity of 36.7 MMT, and will keep weekly performance metrics and monthly reporting.

BNSF CEO Katie Farmer said BNSF is reviewing additional Surface Transportation Board information on the proposed Union Pacific-Norfolk Southern merger. She argued the supplemental filing does not address anticompetitive concerns and would raise rail rates and consumer prices. She cited Railfax data that the combined UP-NS would handle about 37% of North American rail traffic.

Union Pacific (UP) and Norfolk Southern (NS) filed updated commitments with the U.S. Surface Transportation Board to support their proposed merger, including expanded fixed “gateway pricing,” protections for “three-to-two” shippers, and temporary alternative service access if integration performance declines. The deal is expected to close mid-2027. Separately, Q2 revenue rose for UP and NS and other major railroads, with most raising 2026 guidance.