Canadian Pacific Kansas City Limited

CP

CA13646K1084

Ground Freight & Logistics

Market Closed - Toronto S.E. Other stock markets 04:00:00 2024-09-06 pm EDT			5-day change	1st Jan Change
112.39 ^CAD	-0.37%		+0.46%	+7.20%

Aug. 30	Teamsters Launch Court Appeal of Feds' Move To End Rail Shutdown	MT
Aug. 30	Canadian Rail Workers Union Appeals Decision Ordering Binding Arbitration -- Update	DJ

Canadian Pacific Kansas City 2Q Revenue Rises on Increased Shipping Volumes

July 30, 2024 at 04:58 pm EDT

By Connor Hart

Canadian Pacific Kansas City's second-quarter revenue rose on increased shipping volumes, while profit fell due to decreased efficiencies.

The Canadian rail operator on Tuesday reported a profit of $905 million Canadian dollars ($653.2 million), or 97 Canadian cents a share, down from C$1.32 billion, or C$1.42 a share, in the year-ago quarter. Analysts polled by FactSet expected per-share earnings of 98 Canadian cents.

Stripping out certain one-time items, adjusted per-share earnings were C$1.05, beating analysts' forecast of C$1.01 a share.

Revenue rose 13.5% to C$3.6 billion, slightly higher than analysts' expected revenue of C$3.58 billion, according to FactSet.

Reported operating ratio, which measures efficiency by comparing operating expenses to net sales, fell by 550 basis points to 64.8% from 70.3% a year earlier.

Shipping volumes rose 6% on a combined basis.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

07-30-24 1658ET

Latest news about Canadian Pacific Kansas City Limited

Teamsters Launch Court Appeal of Feds' Move To End Rail Shutdown	Aug. 30	MT
Canadian Rail Workers Union Appeals Decision Ordering Binding Arbitration -- Update	Aug. 30	DJ
Canada rail union launches court challenge to back-to-work order	Aug. 30	RE
Canadian Rail Workers Union Appeals Decision Ordering Binding Arbitration	Aug. 30	DJ
Judge Acquits Canadian Pacific Kansas City of Contempt of Court In Ruling Tied To Long Work Hours	Aug. 28	MT
TSX Closer: The Market Rises to Another Record as Rail Service Resumes	Aug. 26	MT
US rails cancel embargoes after Canada work stoppage ends	Aug. 26	RE
Canadian National Railway Operates at 75% Capacity After Arbitration	Aug. 26	MT
Toronto Stocks Edge Higher; Givex Rises on C$200 Million Sale	Aug. 26	DJ
MT Newswires Stocks To Watch: CPKC and CN; Air Canada	Aug. 25	MT
Canadian rail decision is a win for federally-regulated companies, union leader says	Aug. 25	RE
Canada labor board orders end to railway work stoppage	Aug. 24	RE
TSX Closer: The Market Closes at a Record as the C$ Rises After the U.S. Federal Reserve Turns Dovish	Aug. 23	MT
TSX at Record High as Powell's Remarks Cheer Investors	Aug. 23	MT
Rail Stocks Brief: Francois Laporte, President of Teamsters Canada, At CP Stoppage Adds No Decision Taken Yet On Whether To Take Labour Dispute to the Federal Court	Aug. 23	MT
Rail Stocks Brief: Teamsters Union Holding Rally Outside of CPKC HQ	Aug. 23	MT
Rail Stocks Brief: Francois Laporte, President of Teamsters Canada, At CP Stoppage Says On CBC News Union's Legal Team "Looking At All Our Options Right Now	Aug. 23	MT
Rail Stocks Brief: Reps From Both CN And CP Rail and From Teamsters Have Been Holding a Virtual Meeting Since 10am This Morning, says CBC News	Aug. 23	MT
Rail Stocks Brief: Teamsters Has Filed Official Strike Notice, says CBC News	Aug. 23	MT
Rail Stocks Brief: Federal Labour Minister Steven MacKinnon Late Thursday Afternoon Referred the dispute to the Canada Industrial Relations Board to impose binding arbitration	Aug. 23	MT
Rail Stocks Brief: This As Work Stoppage Had Continued at CP Rail	Aug. 23	MT
Rail Stocks Brief: Teamsters Issuing CN Rail a 72-hour Strike Notice, says CBC News	Aug. 23	MT
ICE Canola Midday : Prices on the Rise With Upticks in Soy	Aug. 23	DJ
Canada rail workers union to challenge government decision to refer dispute to labor board	Aug. 23	RE
TSX futures rise, Fed Chair Powell's speech anticipated	Aug. 23	RE

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Company Profile

Canadian Pacific Kansas City Limited, formerly Canadian Pacific Railway Limited, operates a single-line transnational railway linking Canada, the United States and Mexico, with access to the ports from Vancouver to Atlantic Canada, to the Gulf of Mexico, and to Lazaro Cardenas, Mexico. The Company operates approximately 20,000 miles of rail and provides North American customers with unparalleled rail service and network reach to key markets across the continent. The Company offers a suite of freight transportation services, logistics solutions, and supply chain expertise. It transports ethanol from production areas in the Midwest United States to consumer markets across the Northeast United States and Canada. The Company serves various markets, including Canadian grain; United States grain; bulk; intermodal; automotive; forest and industrial products; transload; and energy, chemicals and plastics. Its wholly owned subsidiary is Canadian Pacific Railway Company.

Employees

20,219

Sector

Ground Freight & Logistics

Calendar

2024-09-11 - Morgan Stanley Laguna Conference

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