Report
Keith Schoonmaker, CFA
EUR 147.86 For Business Accounts Only

Intermodal on Near-Term Slow Track, but Will Remain the Central Volume Driver for the Rails and IMCs

Between 2010 and 2015, the rail-intermodal industry enjoyed double-digit revenue expansion, with noteworthy help from truck-to-rail conversions on shorter-haul freight moving less than 1,000 miles. Meaningful Class I infrastructure investment, shippers’ rising focus on slashing supply chain costs, and concerns over capacity constraints in trucking all contributed. Over the past year, however, cheap diesel prices and more readily available truckload capacity linked to a pullback in shipment deman...
Underlying
Canadian National Railway Company

Canadian National Railway, together with its wholly-owned subsidiaries, is engaged in the rail and related transportation business. Co.'s network of approximately 20,000 route miles of track spans Canada and mid-America, from the Atlantic and Pacific oceans to the Gulf of Mexico. Co.'s network and connections to all Class I railroads provide access to all three North American Free Trade Agreement nations. Co. handles and carries cargo, serving exporters, importers, retailers, farmers and manufacturers. Co. is engaged in the movement of a portfolio of goods, including petroleum and chemicals, grain and fertilizers, coal, metals and minerals, forest products, intermodal and automotive.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Keith Schoonmaker, CFA

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