(Source: Trains.com, April 24, 2024)
Canadian Pacific Kansas City’s first-quarter financial results reflected the progress the railway has made in the year since the Canadian Pacific-Kansas City Southern merger, executives said today. On a combined basis — which estimates the effects of the CP-KCS merger as if it had become effective on Jan. 1, 2023, instead of April 14, 2023 — CPKC’s operating income was flat, at $1.2 billion, as revenue increased 2%, to $3.5 billion. Earnings per share increased 3%, to 93 cents. The operating ratio was 64%, a 0.5-point increase compared to a year ago. CPKC’s freight volume increased 1% in the quarter based on revenue ton-miles, which rose thanks to longer lengths of haul on the combined network. On a carload basis, traffic declined 3%.
Full story: Trains.com