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10/24/2024
Canadian Pacific Kansas City yesterday reported 2024 third-quarter net income of C$837 million and diluted earnings per share (EPS) of 90 cents, compared to 2023 Q3 net income of C$780 million and diluted EPS of 84 cents.
The Class I reported 2024 Q3 revenue rose 6% to C$3.5 billion from 2023 Q3 revenue of C$3.3 million. CPKC posted an operating ratio 66.1% in the quarter, compared to 64.9% a year ago. Volumes, measured in revenue ton miles, climbed 4%.
"During the third quarter, we delivered strong performance across the operations of our unrivaled North American network, despite dealing with a number of temporary headwinds," said CPKC President and CEO Keith Creel in a press release.
The company anticipates more growth momentum and opportunities ahead, he said.
"Our strategic initiatives and investments position us well for more growth and success for the remainder of this year, in 2025 and beyond," said Creel. "Fueled by the strength of our dedicated team of railroaders, we are confident in our ability to continue producing results for our customers and long-term value for shareholders."