Canadian National Railway Co (CNI) Q1 2023 Earnings Call Transcript

For the period ending March 31, 2023

April 24, 2023 4:30 p.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good afternoon. My name is Lisa and I will be your operator today. Welcome to CN's First Quarter 2023 Financial and Operating Results Conference Call. All participants are now in a listen-only mode. And after the speaker's remarks, there will be a question-and-answer session, during which we ask that you kindly limit yourself to one question.

I would now like to turn the call over to Paul Butcher, Vice President, Investor Relations. Ladies and gentlemen, Mr. Butcher.

Paul Butcher - VP, IR

Well, thank you, Lisa. Good afternoon, everyone, and thank you for joining us for CN's First Quarter 2023 Financial Results Conference Call. Now before I begin, I'd like to draw your attention to the forward-looking statements and additional legal information available at the beginning of the presentation.

As a reminder, today's conference call contains certain projections and other forward-looking statements within the meaning of the U.S. and Canadian securities laws. These statements are subject to risks and uncertainties that may cause actual results to differ materially from those expressed or implied in these statements and are more fully described in our cautionary statement regarding forward-looking statements in our presentation.

After the prepared remarks, we will conduct a Q&A session. I do want to remind you to please limit yourself to one question. The IR team will be available after the call for any follow-up questions.

Joining us on the call today are Tracy Robinson, our President and CEO; Doug MacDonald, our Chief Marketing Officer; Ghislain Houle, our Chief Financial Officer; and Ed Harris, our Chief Operating Officer.

It is now my pleasure to turn the call over to CN's President and Chief Executive Officer, Tracy Robinson.

Tracy Robinson - President and CEO

[Foreign Language] Welcome to CN's Q1 earnings call. We very much appreciate you joining us today. Now before I get into the Q1 highlights, let me just make a few comments on some recent developments. Firstly, I'm really excited to announce that CN with UP and GMXT are launching a new transformational premium intermodal service that connects Mexico, the US, and Canada.

Now, this is a steel wheel interchange service that leverages the best of our three networks and creates the most direct route and the fastest transit times between Canada and Mexico. It will provide our intermodal customers with the efficiency of bigger payloads and most importantly, the ability to accelerate the shift of truck business to rail.