Canadian National Railways Faces Rising Earnings Pressure And Network Challenges, Analyst Downgrades Stock
Canadian National Railways Faces Rising Earnings Pressure And Network Challenges, Analyst Downgrades Stock
Hoexter highlights that Canadian National has been grappling with months of labor uncertainty, a four-day shutdown of its Canadian network, and wildfires in Alberta.BofA Securities analyst Ken Hoexter downgraded Canadian National Railway Company (NYSE:CNI) to Neutral from Buy, lowering the price forecast from $129 to $122 amid "rising earnings pressure."
美银证券分析师肯·霍克斯特将加拿大国家铁路公司（纽交所：CNI）的评级从买入调降至中立，将价格预测从129美元下调至122美元，原因是“盈利压力上升”。
According to the analyst, the company's third-quarter volumes have been affected by ongoing network performance challenges following the labor lockout of Conductor/Engineer staff in August.
根据分析师的说法，该公司第三季度的销量受到了持续的网络性能挑战的影响，这是因为8月份列车长/工程师员工的劳资纠纷导致了劳动停工。
The analyst estimates 2024 EPS growth of -0.3%, down from a previous forecast of +2.0%, which is below Canadian National's revised low single-digit guidance, reduced from mid-single digits last month.
分析师预计2024年的每股收益增长为-0.3%，低于之前预测的+2.0%，低于加拿大国家铁路修订的低个位数指引，上月从中个位数调低。
Hoexter highlights that Canadian National has been grappling with months of labor uncertainty, a four-day shutdown of its Canadian network, and wildfires in Alberta.
Hoexter强调，加拿大国家铁路长期面临劳工不确定性，其加拿大网络曾停运四天，阿尔伯塔省还发生了野火事故。
The company's September volumes were below expectations, showing only a slight year-over-year increase. This was influenced by labor uncertainty, a slower-than-anticipated ramp in Canadian grain, and various service challenges.
该公司九月份的销量低于预期，仅显示出轻微的同比增长。这一情况受到劳工不确定性、加拿大粮食增长速度低于预期以及各种服务挑战的影响。
Also Read: 2 Railway Strikes, 3 US Sectors In Trouble: $277B In Goods At Stake As Canadian Unions Call For New Contracts
另请参阅：2次铁路罢工，3个美国行业陷入困境：加拿大工会要求新合同，涉及价值2770亿美元的货物
Additionally, Metals & Minerals volumes declined by 9% year-over-year, falling short of the analyst's previous estimate of -5.5% (now revised to -9%), primarily due to reduced steel demand from sluggish construction activity.
此外，金属和矿产销量同比下降9%，低于分析师之前估计的-5.5%（现已修订为-9%），主要是因为钢铁需求下滑导致施工活动不振。
The analyst has revised the third quarter 2024 operating ratio estimate to 63.1%, up from 61.4%, reflecting a 90 basis points deterioration from the second to the third quarter, which is worse than the 80 basis points average improvement seen over the past five years during the same period.
分析师已经调低了2024年第三季度的营运比率预期至63.1%，而不是之前的61.4%，反映出第三季度与第二季度相比出现了90个基点的恶化，这比过去五年同期间平均提高80个基点的水平要差。
Following a rise in labor costs and congestion in the second quarter, the company has furloughed employees and halted hiring in certain regions as it seeks to address cost issues in the Vancouver corridor, according to the analyst.
由于劳动成本上涨和第二季度拥挤情况，该公司已经在一些地区停止雇员招聘，以解决温哥华走廊的成本问题，据分析师称。
Price Action: CNI shares are trading lower by 0.49% to $113.68 at last check Friday.
价格走势：CNI股份最近交易价格下跌0.49%，至113.68美元。
Image via Canadian National Railway Company
图片来自加拿大国家铁路公司
- What's Going On With Cisco Systems Stock Friday?
- 思科系统股票周五怎么了？
