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."
美銀證券分析師肯·霍克斯特將加拿大國家鐵路公司（紐交所：CNI）的評級從買入調降至中立，將價格預測從129美元下調至122美元，原因是「盈利壓力上升」。
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.
根據分析師的說法，該公司第三季度的銷量受到了持續的網絡性能挑戰的影響，這是因爲8月份列車長/工程師員工的勞資糾紛導致了勞動停工。
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.
分析師預計2024年的每股收益增長爲-0.3%，低於之前預測的+2.0%，低於加拿大國家鐵路修訂的低個位數指引，上月從中個位數調低。
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強調，加拿大國家鐵路長期面臨勞工不確定性，其加拿大網絡曾停運四天，阿爾伯塔省還發生了野火事故。
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.
該公司九月份的銷量低於預期，僅顯示出輕微的同比增長。這一情況受到勞工不確定性、加拿大糧食增長速度低於預期以及各種服務挑戰的影響。
Also Read: 2 Railway Strikes, 3 US Sectors In Trouble: $277B In Goods At Stake As Canadian Unions Call For New Contracts
另請參閱：2次鐵路罷工，3個美國行業陷入困境：加拿大工會要求新合同，涉及價值2770億美元的貨物
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，金屬和礦產銷量同比下降9%，低於分析師之前估計的-5.5%（現已修訂爲-9%），主要是因爲鋼鐵需求下滑導致施工活動不振。
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.
分析師已經調低了2024年第三季度的營運比率預期至63.1%，而不是之前的61.4%，反映出第三季度與第二季度相比出現了90個點子的惡化，這比過去五年同期間平均提高80個點子的水平要差。
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.
由於勞動成本上漲和第二季度擁擠情況，該公司已經在一些地區停止僱員招聘，以解決溫哥華走廊的成本問題，據分析師稱。
Price Action: CNI shares are trading lower by 0.49% to $113.68 at last check Friday.
價格走勢：CNI股份最近交易價格下跌0.49%，至113.68美元。
Image via Canadian National Railway Company
圖片來自加拿大國家鐵路公司
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譯文內容由第三人軟體翻譯。
