Cancel OK

On Strength of Safety and Service CP Reports Record Q2 Revenues of $2.05 Billion

General News
Canadian Pacific Railway - Lumber Transportation

Canadian Pacific Railway Limited (“CP”) announced second-quarter operating results, including record Q2 revenues of $2.05 billion, an operating ratio (“OR”) of 60.1 percent, record Q2 adjusted OR of 55.3 percent, record diluted earnings per share (“EPS”) of $1.86 and record adjusted diluted EPS of $1.03.

“Our industry-leading team of railroaders delivered another record quarter. I am particularly proud of our all-time record safety performance made possible by the collective efforts of the over 12,000-strong CP family,” said Keith Creel, CP President and Chief Executive Officer. “The robust base demand environment coupled with our unique growth opportunities has CP extremely well positioned as we head into the second half of the year.”

Second-Quarter Highlights

– Revenues increased by 15 percent to a Q2 record $2.05 billion, from $1.79 billion last year

– Reported diluted EPS was $1.86, a 100 percent increase from $0.93 last year

– Adjusted diluted EPS was $1.03, a 27 percent increase from $0.81 last year

– Reported OR, which includes Kansas City Southern (“KCS”) acquisition-related costs, increased by 310 basis points to 60.1 percent from 57.0 percent.

– Adjusted OR, which excludes the KCS acquisition-related costs, improved 170 basis points to a Q2 record 55.3 percent

– Federal Railroad Administration (“FRA”)-reportable personal injuries declined 34 percent to a record-low 0.77 from 1.16 in Q2 2020, and FRA-reportable train accident frequency decreased 70 percent versus Q2 2020 to a record-low 0.36 from 1.191

“We remain confident in our full-year guidance of double-digit adjusted diluted EPS growth relative to 2020’s adjusted diluted EPS of $3.53,” added Creel. “Our ability to deliver sustainable, profitable growth has never been stronger.”

CP’s second-quarter results reflect the five-for-one share split of the outstanding Common Shares that was approved by shareholders on April 21, 2021. All outstanding Common Shares and per share amounts have been retrospectively adjusted to reflect the share split.

For the full second quarter results, click here.

(1) Federal Railroad Administration (“FRA”) personal injuries per 200,000 employee-hours for the three months ended June 30, 2020, previously reported as 1.12, was restated to 1.16 in this Earnings Release. FRA train accidents per million train-miles for the three months ended June 30, 2020, previously reported as 1.06, was restated to 1.19 in this Earnings Release. These restatements reflect new information available within specified periods stipulated by the FRA but that exceed the Company’s financial reporting timeline.

About Canadian Pacific

Canadian Pacific is a transcontinental railway in Canada and the United States with direct links to major ports on the west and east coasts. CP provides North American customers a competitive rail service with access to key markets in every corner of the globe. CP is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit to see the rail advantages of CP.

Source: Canadian Pacific Railway Limited