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CNR: Q4 volume gains, cost cuts, and leadership changes drive resilience amid freight recession

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Volume growth in Q4 and strong cost management have positioned the company well despite ongoing freight recession and sector challenges. Leadership changes and a focus on sustainability, capital efficiency, and opportunistic share buybacks support resilience and future growth.

Based on Canadian National Railway Company [CNR] Desjardins Toronto Conference Audio Transcript — Nov. 24 2025

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