(Source: Freight Waves, July 27, 2023)
Higher combined revenues for the second quarter of 2023 helped boost net profits for Canadian Pacific Kansas City. Revenues for the second quarter were nearly CA$3.2 billion (US$2.4 billion), up 44% year over year (y/y), CPKC said Thursday afternoon. The y/y figure reflects CP’s results in the second quarter of 2022. Canadian Pacific and Kansas City Southern completed their merger in April to become CPKC. Results are reported in Canadian dollars. Net income was $1.3 billion, or $1.42 per diluted share, for the second quarter of 2023, compared with $765 million, or 82 cents per diluted share, for the second quarter of 2022.
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