(Source: Trains.com, July 30, 2024)
Canadian Pacific Kansas City had a gangbuster second quarter as merger-related traffic synergies kicked in faster than expected and boosted revenue and profits, executives said on Tuesday. CPKC’s quarterly operating income — adjusted to reflect the April 14, 2023, CP-KCS merger as if it occurred on Jan. 1 — increased 17%, to $1.37 billion, as adjusted revenue grew 8%, to $3.6 billion. Adjusted earnings per share increased 27%, to $1.05. The combined railway’s operating ratio improved 2.8 points, to 61.8%.
Full story: Trains.com