CN train
Photo courtesy of CN.

The company’s revenues in its grain and fertilizers business declined 11% to C$539 million in the first quarter, down from C$607 million in the same period a year ago. CN also indicated it moved fewer carloads in the grain and fertilizers unit during the first quarter, with carloads at 145,000, down 12% from 164,000 in the same period a year ago.

Canadian National Railway
Jean-Jacques Ruest, interim president and chief executive officer of CN.

Ruest said CN’s board has approved, contingent on some conditions, that CN can rebuild its Canadian grain fleet and place orders in 2019 and 2020 to refurb new-generation hopper cars, an initiative he said will help CN rebuild its reputation while building a good position for the company in the Canadian grain trade.