CN Announces $3.4 Billion CAD Capital Expenditure Program for 2025 Focused on Infrastructure and Sustainable Growth

CN announces a $3.4 billion CAD capital expenditure program for 2025, focusing on infrastructure, safety, and growth.

Quiver AI Summary

CN has announced a robust capital expenditures program for 2025, with an investment of approximately $3.4 billion CAD aimed at expanding capacity, enhancing safety, and promoting sustainable growth across its North American operations. This investment includes around $2.9 billion for maintenance and infrastructure projects, such as new rail installations and capacity building projects in Western Canada. Additionally, over $500 million will be dedicated to upgrading rolling stock to ensure safe and reliable service. The company emphasizes that these investments are crucial for strengthening supply chains and delivering high-quality service now and in the future. In 2024, CN also invested about $3.5 billion, focusing significantly on maintaining the integrity of its network and enhancing operational efficiency in key areas such as Greater Chicago and Greater Vancouver.

Potential Positives

• CN is committing approximately $3.4 billion CAD for its 2025 capital expenditures program, indicating a strong investment in its infrastructure and future growth.
• Over $2.9 billion is allocated to maintenance and strategic infrastructure initiatives, highlighting the company's focus on enhancing safety and operational efficiency.
• The project plans include over 225 miles of new rail installation and 8 capacity-building projects, which could significantly improve service levels and capacity across its network.
• CN's investment in upgrading and expanding its rolling stock with more than $500 million reinforces its commitment to providing safe and reliable service to customers.

Potential Negatives

• The company experienced a decrease in capital expenditures from $3.5 billion CAD in 2024 to $3.4 billion CAD in 2025, which may indicate a tightening budget or reduced investment willingness.
• Uncertainties surrounding forward-looking statements highlight potential risks and economic conditions that could adversely affect CN's planned investments and operational goals.

FAQ

What is CN's 2025 capital expenditure program?

CN's 2025 capital expenditure program involves an investment of approximately $3.4 billion CAD to enhance capacity, safety, and sustainability.

How much does CN plan to invest in infrastructure initiatives?

CN is allocating about $2.9 billion CAD to maintenance and strategic infrastructure initiatives across Canada and the United States.

What specific projects are included in CN's capital program?

The capital program includes over 225 miles of new rail installations and approximately 8 capacity-building projects in Western Canada.

How does CN's investment benefit supply chains?

CN believes that investing in its network strengthens the resilience and efficiency of North American supply chains, ensuring exceptional service.

What previous investments has CN made in 2024?

In 2024, CN invested approximately $3.5 billion CAD, with significant funds directed towards maintaining network safety and integrity.

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.

$CNI Congressional Stock Trading

Members of Congress have traded $CNI stock 3 times in the past 6 months. Of those trades, 0 have been purchases and 3 have been sales.

Here’s a breakdown of recent trading of $CNI stock by members of Congress over the last 6 months:

• REPRESENTATIVE JARED MOSKOWITZ has traded it 3 times. They made 0 purchases and 3 sales worth up to $45,000 on 01/15.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.

$CNI Hedge Fund Activity

We have seen 317 institutional investors add shares of $CNI stock to their portfolio, and 455 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

• TCI FUND MANAGEMENT LTD removed 5,743,513 shares (-16.2%) from their portfolio in Q4 2024, for an estimated $583,024,004
• ROYAL BANK OF CANADA added 2,044,622 shares (+8.0%) to their portfolio in Q4 2024, for an estimated $207,549,579
• MANUFACTURERS LIFE INSURANCE COMPANY, THE added 1,439,617 shares (+37.3%) to their portfolio in Q1 2025, for an estimated $140,305,072
• WELLINGTON MANAGEMENT GROUP LLP removed 1,340,861 shares (-7.7%) from their portfolio in Q1 2025, for an estimated $130,680,313
• CIBC WORLD MARKET INC. added 1,215,571 shares (+22.8%) to their portfolio in Q1 2025, for an estimated $118,469,549
• MORGAN STANLEY removed 1,167,155 shares (-28.6%) from their portfolio in Q4 2024, for an estimated $118,477,904
• PRICE T ROWE ASSOCIATES INC /MD/ added 1,148,569 shares (+20.9%) to their portfolio in Q1 2025, for an estimated $111,939,534

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

$CNI Analyst Ratings

Wall Street analysts have issued reports on $CNI in the last several months. We have seen 3 firms issue buy ratings on the stock, and 1 firms issue sell ratings.

Here are some recent analyst ratings:

• Susquehanna issued a "Positive" rating on 05/06/2025
• Scotiabank issued a "Outperform" rating on 04/02/2025
• Loop Capital Markets issued a "Sell" rating on 02/03/2025
• Jefferies issued a "Buy" rating on 01/10/2025

To track analyst ratings and price targets for $CNI, check out Quiver Quantitative's $CNI forecast page.

$CNI Price Targets

Multiple analysts have issued price targets for $CNI recently. We have seen 3 analysts offer price targets for $CNI in the last 6 months, with a median target of $120.0.

Here are some recent targets:

• An analyst from Susquehanna set a target price of $113.0 on 03/27/2025
• Benjamin Nolan from Stifel Nicolaus set a target price of $120.0 on 01/16/2025
• Stephanie Moore from Jefferies set a target price of $120.0 on 01/10/2025

Full Release

MONTREAL, May 15, 2025 (GLOBE NEWSWIRE) -- CN (TSX: CNR) (NYSE: CNI) today announced its 2025 capital expenditures program, underscoring its commitment to growing capacity, enhancing safety, and powering sustainable growth across its North American network. CN will invest approximately $3.4 billion CAD in capital projects this year, net of customer reimbursements.

This year’s capital program includes approximately $2.9 billion allocated to its maintenance and strategic infrastructure initiatives across Canada and the United States. Projects already underway include over 225 miles of new rail installation and approximately 8 capacity building projects in Western Canada scheduled to come online by the end of this year.

As part of this investment CN is also allocating over $500 million to upgrade and expand its rolling stock, reinforcing the Company’s focus on providing safe, reliable, and efficient service for customers across its network.

"At CN, we believe investing in our network is investing in the future of North American supply chains. Our 2025 capital program reflects a clear focus on strengthening the resilience, efficiency, and sustainability of our operations. These investments are about delivering exceptional service today — and building a safer, more connected tomorrow for our customers, employees, supply chain partners, and the economy."

• 
  Tracy Robinson, President, and Chief Executive Officer of CN
  
  
  

In 2024, CN invested approximately $3.5 billion CAD, of which $1.7 billion was spent to maintain the safety and integrity of its network, particularly track infrastructure.

More highlights from CN’s strategic infrastructure investments in 2024 included:

• 
  Over $75 million CAD (USD $54 million) in a
  
  four-mile siding extension in the Greater Chicago area
  
  , boosting corridor capacity by 17%.
  


• 
  Advancing projects to improve fluidity and capacity in the Greater Vancouver area, such as a $7.6 million initial investment in the multi-year Holdom Overpass project, and $2 million for enhancements to the Thornton Tunnel, as well as another $7 million for upgrades to both the Lulu Island and Fraser River Bridges.
  


• 
  Over $60 million invested with its project partners, towards the completion of Phase 1 and advancement of Phase 2 of the new high efficiency loading fuel terminal at CN’s MacMillan Yard in Vaughn, Ontario, serving customers in the Greater Toronto Area.
  
  
  

This annual investment in capital projects and maintenance activities drives the safety and efficiency of CN’s operations, laying a solid foundation for long-term sustainable growth.

CN Forward-Looking Statements



Certain statements by CN included in this news release constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and under Canadian securities laws. By their nature, forward-looking statements involve risks, uncertainties and assumptions. CN cautions that its assumptions may not materialize and that current economic conditions render such assumptions, although reasonable at the time they were made, subject to greater uncertainty. Forward-looking statements may be identified by the use of terminology such as “believes,” “expects,” “anticipates,” “assumes,” “outlook,” “plans,” “targets,” or other similar words. Forward-looking statements reflect information as of the date on which they are made. CN assumes no obligation to update or revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs, unless required by applicable securities laws. In the event CN does update any forward-looking statement, no inference should be made that CN will make additional updates with respect to that statement, related matters, or any other forward-looking statement.

About CN



CN powers the economy by safely transporting more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year for its customers. With its nearly 20,000-mile rail network and related transportation services, CN connects Canada’s Eastern and Western coasts with the U.S. Midwest and the U.S. Gulf Coast, contributing to sustainable trade and the prosperity of the communities in which it operates since 1919.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.