CPKC Reports First-Quarter Results; Celebrating One Year as a Combined Company

Canadian Pacific Kansas City (CPKC) today announced its first-quarter results, including revenues of $3.5 billion, diluted earnings per share (EPS) of $0.83 and core adjusted combined diluted EPS1, 2 of $0.93.

“One year into our historic combination, I am proud of what our dedicated family of railroaders has accomplished as we deliver on the benefits of our unrivalled network – spurring competition, increasing safety and connecting more markets for our customers,” said Keith Creel, CPKC President and Chief Executive Officer. “Today’s results show the success of our efforts to drive growth as the only railway connecting Canadathe United States and Mexico.”

First-quarter 2024 results1

  • Reported operating ratio (OR) increased by 400 basis points to 67.4 percent from 63.4 percent in Q1 2023
  • Core adjusted combined OR2 increased 50 basis points to 64.0 percent from 63.5 percent in Q1 2023
  • Reported diluted EPS decreased to $0.83 from $0.86 in Q1 2023
  • Core adjusted combined diluted EPSincreased three percent to $0.93 from $0.90 in Q1 2023
  • Volumes, as measured in Revenue Ton-Miles3 (RTMs), increased one percent on a combined basis
  • Federal Railroad Administration (FRA)-reportable train accident frequency increased to 0.89 from 0.71 in Q1 2023 on a combined basis4
  • FRA-reportable personal injury frequency increased to 1.15 from 1.12 in Q1 2023 on a combined basis4

“We exited last year with strong momentum and our performance in the first quarter, combined with an improving demand environment, has us well positioned to deliver on our 2024 guidance,” Creel added. “As we enter the second year of our forever story, we are focused on safely executing on the unique and undeniable opportunities this franchise creates and delivering long-term value for our employees, customers and shareholders.”

-via Press Release

This article was posted on: April 24, 2024