Latest news with #CPKC
CTV News
9 hours ago
- Business
- CTV News
CPKC reports higher earnings, revenues for second quarter
Signage is pictured at a Canadian Pacific Kansas City rail yard in Smiths Falls, Ont., Thursday, Aug. 22, 2024. THE CANADIAN PRESS/Sean Kilpatrick CALGARY — Canadian Pacific Kansas City reported an increase in profits and revenues during the second quarter and maintained its current guidance. 'Looking ahead, we remain confident in our ability to deliver on our full-year guidance while realizing sustainable growth that provides value for our shareholders, customers and all stakeholders,' CPKC chief executive Keith Creel said in a press release on Wednesday. The railroad is maintaining its most recent forecast of adjusted diluted earnings per share growth of 10 to 14 per cent in 2025, which was lowered in April from an earlier prediction of 12 to 18 per cent growth. At the time, it had cited uncertainty around U.S. tariffs and trade policy. John Brooks, executive vice-president and chief marketing officer at CPKC, said on an earnings call that trade uncertainty is impacting its steel business. 'Essentially, our cross-border steel businesses, for all practical purposes, is shut down at this point at a 50 per cent tariff level. We've had to work hard to backfill and find other opportunities with those customers,' he said. CPKC's decision to maintain its guidance comes after Canadian National Railway Co. reported second-quarter earnings last week. CN said trade uncertainty is making it difficult for it to provide investors with an outlook. The continent-spanning railroad, headquartered in Calgary, posted net income of $1.23 billion for the three months ended June 30, up from $903 million during the same period a year earlier. Diluted earnings per share came in at $1.33, an increase from 97 cents. Revenues were $3.7 billion for the period versus $3.6 billion in the second quarter of 2024. CPKC's operating ratio — a key metric watched by investors, where a lower number is better — decreased to 63.7 per cent from 64.8 per cent a year earlier. The rail company also declared a quarterly dividend of 22.8 cents per outstanding common share. In May, CPKC said an arbitrator's ruling established two new collective bargaining agreements covering thousands of workers. It said the deals bring increased labour stability to its Canadian operations, allowing efficient and dependable service to continue for years to come. This report by The Canadian Press was first published July 30, 2025. Companies in this story: (TSX: CP) The Canadian Press
Calgary Herald
21 hours ago
- Business
- Calgary Herald
CPKC says cross-border steel shipments effectively 'shut down' due to tariffs
Canadian Pacific Kansas City Ltd. managed to increase revenues in its latest quarter, even as cross-border steel shipments ground to a near-halt because of tariffs. Article content The Calgary-based railway said revenues rose by three per cent as its profits hit $1.2 billion in the quarter. Its trains carried seven per cent more volume overall, but import duties imposed by the United States had an impact. Article content Article content In recent months, the federal government under Prime Minister Mark Carney has imposed its own suite of tariffs on certain non-U.S. imports to protect the domestic industry from a flood of cheap, foreign steel. Article content For CPKC, the impacts of dwindling cross-border steel trips were partially offset by more shipments of frac sand, which is used to extract oil and gas. Article content It also saw revenues pick up for grains and coal, while it reported declines for auto, forest products and potash. Article content Despite tariff-driven stops and starts to some segments of the business, revenue for CPKC increased three per cent over the second quarter last year, to a total of $3.7 billion. Article content Article content 'Despite all the headlines, all these evolving trade policies, the challenges that we've all faced as an industry, we continue to drive differentiated, sustainable and profitable growth at CPKC,' Keith Creel, CPKC's chief executive, told analysts. Article content The company's diluted earnings per share grew seven per cent over last year, at $1.33. However, those earnings remain lower than in 2023 when they sat at $1.42. Diluted earnings per share is a way of measuring a company's profitability. Article content Brooks said that despite continued economic uncertainty and trade policy, the second half of this year is 'off to a solid start,' with the company positioned to continue growing. Article content Canadian Pacific acquired Kansas City Southern in the spring of 2023 for US$31 billion — together the two formed CPKC, the first railway connecting Canada, the U.S. and Mexico.
Yahoo
a day ago
- Business
- Yahoo
CPKC reports higher earnings, revenues for second quarter
CALGARY — Canadian Pacific Kansas City has reported an increase in profits and revenues during the second quarter. The continent-spanning railroad, headquartered in Calgary, posted net income of $1.23 billion for the three months ended June 30, up from $903 million during the same period a year earlier. Diluted earnings per share came in at $1.33, an increase from 97 cents. Revenues were $3.7 billion for the period versus $3.6 billion in the second quarter of 2024. CPKC's operating ratio — a key metric watched by investors, where a lower number is better — decreased to 63.7 per cent from 64.8 per cent a year earlier. The railroad is maintaining its most recent forecast of adjusted diluted earnings per share growth of 10 to 14 per cent in 2025, which was lowered in April from an earlier prediction of 12 to 18 per cent growth. This report by The Canadian Press was first published July 30, 2025. Companies in this story: (TSX: CP) The Canadian Press
Winnipeg Free Press
a day ago
- Business
- Winnipeg Free Press
CPKC reports higher earnings, revenues for second quarter
CALGARY – Canadian Pacific Kansas City has reported an increase in profits and revenues during the second quarter. The continent-spanning railroad, headquartered in Calgary, posted net income of $1.23 billion for the three months ended June 30, up from $903 million during the same period a year earlier. Diluted earnings per share came in at $1.33, an increase from 97 cents. Revenues were $3.7 billion for the period versus $3.6 billion in the second quarter of 2024. CPKC's operating ratio — a key metric watched by investors, where a lower number is better — decreased to 63.7 per cent from 64.8 per cent a year earlier. The railroad is maintaining its most recent forecast of adjusted diluted earnings per share growth of 10 to 14 per cent in 2025, which was lowered in April from an earlier prediction of 12 to 18 per cent growth. Monday Mornings The latest local business news and a lookahead to the coming week. This report by The Canadian Press was first published July 30, 2025. Companies in this story: (TSX: CP)
Wall Street Journal
a day ago
- Business
- Wall Street Journal
CPKC Profit, Revenue Rise on More Shipments
Canadian Pacific Kansas City posted higher profit and revenue in the second quarter, as it shipped 7% more volume across its railroad network. The Calgary, Alberta-based railroad operator on Wednesday posted a profit of 1.23 billion Canadian dollars, or the equivalent of $893.1 million, compared with C$903 million in the same quarter a year earlier. On a per-share, CPKC's profit came in at C$1.33, compared with C$0.97 a year earlier.
