)
Edge28 Nov 2025
Keeping the Streak Alive: The Story of Duolingo
How Duolingo made language learning addictive, scaled to millions of users, and built a powerful subscription business around everyday practice.
Canadian National Railway Company (CNR) investor relations material
Canadian National Railway Company Desjardins Toronto Conference summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Desjardins Toronto Conference summary24 Nov, 2025
Business performance and market environment
Year-to-date volumes increased 1%, with Q4 to date up 6% and November up 15%, aided by easier comparisons due to last year's strike.
Sectors like petroleum, chemicals, NGL, and frac sand performed well, while lumber and iron ore faced significant challenges.
Operating ratio improved by 170 basis points in Q3, maintaining a top industry position.
Freight recession continues, but the company is positioned to capture a rebound at low incremental cost.
No significant macroeconomic improvement expected for next year; industrial production remains flat to slightly negative.
Cost management and capital allocation
Implemented a CAD 75 million cost reduction, mainly targeting management positions and consolidating treasury and accounting.
Over 700 train crew members on furlough, with a successful recall rate above 90% for grain season.
Announced a CAD 550 million CapEx reduction for 2026, focusing on capital efficiency and maintaining capacity.
Locomotive fleet rejuvenated, average age reduced from 24 to 19 years, and 4,500 new grain cars acquired.
Share buybacks were opportunistic, with 8 million shares repurchased for over CAD 1 billion in Q3.
Leadership and organizational changes
Patrick Whitehead appointed as COO, moving away from the co-COO model to streamline focus and improve operational efficiency.
Janet Drysdale promoted to EVP and Chief Marketing Officer, emphasizing intensity, urgency, and a proactive go-to-market approach.
Internal support and quick decision-making highlighted as key to marketing success.
CapEx reduction: What growth can it sustain?
Transcon merger: What are CN's options?
COO role evolution: What makes a good CEO?
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next Canadian National Railway Company earnings date
Q4 202520 Jan, 2026
Next Canadian National Railway Company earnings date
Q4 202520 Jan, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
Canada’s National Rail Network
Canadian National Railway Company (CN) is a Canadian transportation and logistics company operating across North America. Founded in 1919, it has grown into a corporation that plays a vital role in the transportation industry. CN's network spans approximately 20,000 route miles, covering Canada and parts of the United States, The company has a diversified portfolio of transport services, including rail, intermodal, trucking, freight forwarding, warehousing, and distribution. CN is headquartered in Montreal, Quebec, and has a dual listing on both the NYSE and the TSX.
Nationalized to Privatized
Canadian National was created by the Canadian government in 1918, nationalizing and merging several failing and bankrupt railways in the country. The early years were challenging due to the amalgamated nature of the railways, differing track gauges, and financial difficulties stemming from the previous companies. Between the 1930s to the 1950s, the company modernized and expanded, becoming a crucial part of the nation's transportation infrastructure.
In 1995, the government privatized CN through one of the largest initial public offerings in Canadian history. This naturally marked a significant shift for the company, moving it from a state-owned entity to a private, profit-driven company. Post-privatization, CN expanded its operations into the United States, acquiring several American railroads. Today, CN is a leader in the rail transport industry, known for its extensive network connecting Canada and the United States.
The Rail Network
CN operates a comprehensive rail network in North America, primarily focusing on freight transportation. Its railway system spans across Canada and extends into the United States, making it one of the largest rail networks on the continent. CN's rail operations are critical in connecting different regions, facilitating the movement of a wide range of goods including agricultural products, raw materials, finished goods, and consumer products. Other important companies in the sector include Norfolk Southern, Union Pacific, and CSX Corporation.
Intermodal Transportation and More
Apart from its core railway operations, CN has diversified into several other divisions, including intermodal transportation, which integrates different transportation modes like rail and trucks. CN's intermodal services play a crucial role in streamlining supply chains and offering flexible logistics solutions. Additionally, the company has a division dedicated to automotive transport, specializing in the distribution of vehicles. CN also operates in the logistics sector, providing comprehensive supply chain management solutions that complement its rail and intermodal services. These divisions, while ancillary to CN's primary rail operations, significantly contribute to its overall business model, offering integrated transportation and logistics solutions to a wide range of industries.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage