Canadian National Railway Company (CNR:CA) Presents at Morgan Stanley’s 14th Annual Laguna Conference Transcript

Ravi Shanker
Morgan Stanley, Research Division

Great. Good morning, everyone, and welcome back to Day 2 of the Laguna Conference. We had an exciting day yesterday and hoping for a lot more great content today. So very happy to kick off our day 2 schedule with Canadian National Railroad, and very happy to welcome back to Laguna, CEO, Tracy Robinson. Tracy, thanks for being here.

Tracy Robinson
President, CEO & Director

Thanks, Ravi. Always good to be in Laguna and always happy to come back and talk you about what’s going on in the rail space.

Ravi Shanker
Morgan Stanley, Research Division

Great. That’s awesome. I will let you open with some opening remarks. But before that, I have to say that for important disclosures, please see Morgan Stanley’s research disclosure website at morganstanley.com/researchdisclosures or please read our recent research.

And with that, Tracy, do you want to just open up with the lay of land?

Tracy Robinson
President, CEO & Director

Sure. Listen, I’m really proud of the way the last year has unfolded. But what I maybe I’ll do before we get to your questions, Ravi, is I’ll spend just a couple of minutes on where I’m focusing my time and where we’re all focusing our time as we look forward as well. And that being on some pretty interesting growth opportunities combined with some disciplined operating execution and how that kind of combines to create some interesting shareholder value.

So on growth opportunities, first, I got to tell you, I am really happy to be sitting here this year with a network