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7/31/2024
Canadian Pacific Kansas City yesterday reported second-quarter 2024 revenue of CA$3.6 billion, up from CA$3.2 billion a year ago.
The Class I posted diluted earnings per share (EPS) of 97 cents, down from $1.42 a year ago, and core adjusted combined diluted EPS of $1.05, up from 83 cents a year ago. Q2 operating income rose to CA$1.3 billion from CA$944 million a year ago.
CPKC's operating ratio (OR) decreased to 64.8% from 70.3% in Q2 2023. The core adjusted combined OR decreased to 61.8% from 64.6% a year ago.
"Our excellent second quarter results showcase how the advantages of this unrivaled North American network are being realized," said CPKC President and CEO Keith Creel in a press release. "We delivered robust revenue growth driven by synergies, along with strong operating and safety performance."
Measured in revenue ton-miles, volumes rose 6% on a combined basis. The Federal Railroad Administration-reportable train accident frequency fell to 0.77 from 0.80 a year ago, while the FRA-reportable personal injury frequency decreased to 0.81 from 1.31 in Q2 2023.
"Looking ahead, we are confident in our strategy and our team's ability to continue this momentum. We are well on track to deliver on our guidance for the year, leveraging our strong operational foundation to deliver sustainable growth and value for our stakeholders," Creel added. "Together, we are moving forward with a clear vision of success for all stakeholders and an industry leading team in place to execute it."