MONTREAL - CN (TSX:CNR) (NYSE:CNI) transported 2.96 million metric tonnes of grain from Western Canada in May, exceeding the previous monthly record of 2.54 million metric tonnes set in May 2025, according to a press release statement.
The railway company attributed the record volume to sustained export demand, available grain supply and operations across its network. CN moved the grain through its Canadian export corridors during the month. The $72.6 billion railway operator, a prominent player in the Ground Transportation industry according to InvestingPro, has delivered a 25.67% return over the past six months as shares trade near their 52-week high.
The company stated it is preparing its network to support shipping requirements as the growing season begins across Western Canada.
CN operates a rail network spanning nearly 20,000 miles across North America, connecting Canada’s coasts with the U.S. Midwest and Gulf Coast. While InvestingPro analysis indicates the stock is currently overvalued relative to its Fair Value—placing it among companies on the Most Overvalued list—the company maintains a strong dividend track record. For deeper insights, investors can access CN’s comprehensive Pro Research Report, one of 1,400+ available for US equities.
In other recent news, Canadian National Railway (CN) reported its first-quarter 2026 earnings, meeting analysts’ expectations with an earnings per share of CAD 1.80. The company’s revenue slightly exceeded forecasts, coming in at CAD 4.38 billion, which represented a modest 0.46% revenue surprise. Despite meeting these expectations, CN faced investor concerns due to increased expenses and a year-over-year decline in adjusted earnings per share. In related developments, CN filed comments with the Surface Transportation Board urging the rejection of the revised Union Pacific-Norfolk Southern merger application, citing unresolved deficiencies. Additionally, Canadian rail traffic showed mixed results, with CN experiencing a 2.3% decline year-over-year, according to Raymond James. Meanwhile, CPKC reported a 3.8% increase in traffic, driven by gains in several segments. In the United States, Goldman Sachs reported that Class I railroad carload growth accelerated to 5% year-over-year, while intermodal volume growth climbed to 8.3%.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
The fastest way to find out is with our Fair Value calculator. We use a mix of 17 proven industry valuation models for maximum accuracy. Get the bottom line for CNI plus thousands of other stocks and find your next hidden gem with massive upside.