CPKC Reports First Quarter Results

Canadian Pacific Kansas City (TSX: CP) (NYSE: CP) (CPKC) today announced its first-quarter results, including revenues of $2.27 billion, operating ratio (“OR”) of 63.4 percent, adjusted OR¹ of 62.9 percent, diluted earnings per share (“EPS”) of $0.86 and core adjusted diluted EPS¹ of $0.90.

“In our final quarter before our historic combination, the CP team delivered solid results driven by our investment in capacity, service and continued focus on safety,” said Keith Creel, CPKC President and CEO. “Our strong bulk franchise, fueled by a robust Canadian grain harvest, plus competitive service offerings in intermodal helped produce these results providing momentum as we begin our journey as CPKC.”

First quarter 2023 highlights

• Revenues increased 23 percent to $2.27 billion, from $1.84 billion in Q1 2022
• Volumes, as measured in revenue ton-miles, increased 11 percent
• Reported OR improved by 750 basis points to 63.4 percent, from 70.9 percent in Q1 2022
• Adjusted OR¹, improved 690 basis points to 62.9 percent from 69.8 percent in Q1 2022
• Reported diluted EPS increased to $0.86, from $0.63 in Q1 2022
• Core adjusted diluted EPS¹ increased to $0.90, from $0.67 in Q1 2022

“Since we first announced our intention to combine CP and KCS more than two years ago, we never lost our conviction that a CP-KCS combination is right for our railroaders, our customers, our stakeholders and the North American economy,” said Creel. “We are excited to have united the talented railroaders at CP and KCS to form our new CPKC family and are working to deliver on the synergies and countless benefits the combined company will produce.”

For the complete press release, click here.

About CPKC

With its global headquarters in Calgary, Alta., Canada, CPKC is the first and only single-line transnational railway linking Canada, the United States and México, with unrivaled access to major ports from Vancouver to Atlantic Canada to the Gulf of México to Lázaro Cárdenas, México. Stretching approximately 20,000 route miles and employing 20,000 railroaders, CPKC provides North American customers unparalleled rail service and network reach to key markets across the continent. CPKC is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpkcr.com to learn more about the rail advantages of CPKC.

Source: Canadian Pacific Kansas City Limited