Canadian Pacific Kansas City (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
-via Press Release