CPKC: 16 collective bargaining agreements in U.S. ratified, 2 additional tentative agreements reached

Rhea-AI Summary

Canadian Pacific Kansas City (NYSE: CP) said 16 tentative five-year collective bargaining agreements in the United States have been ratified, covering approximately 700 railroaders across Illinois, Indiana, Louisiana, Minnesota, Mississippi, Missouri, New York, North Dakota, Oklahoma, Texas and Wisconsin. Agreements include a BLET deal for about 300 locomotive engineers, five Brotherhood of Railway Carmen agreements covering 231 carmen, and multiple TCU/IAM and ARASA agreements covering ~108 clerks, maintenance and supervisory employees. Two five-year tentative agreements for 76 electricians (IBEW) reached in December remain subject to ratification.

News Market Reaction – CP

+0.44%

+0.44% Session close to close

In the Jan 15 session, CP gained 0.44%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement secures labor stability through 16 ratified five-year collective bargaining agreem...

Analysis

This announcement secures labor stability through 16 ratified five-year collective bargaining agreements and two tentative deals covering more than 700 U.S. employees across multiple unions. It complements earlier disclosures of Q3 revenue of $3,661 million, an operating ratio of 63.5%, and a quarterly dividend of $0.228 per share. Investors may watch future earnings and any remaining ratifications to gauge how these agreements flow through to costs and operational performance.

Key Figures

Collective agreements ratified: 16 agreements Agreement term: 5 years U.S. railroaders covered: 700 employees +5 more

8 metrics

Collective agreements ratified 16 agreements U.S. unions, recent weeks

Agreement term 5 years New U.S. collective bargaining agreements

U.S. railroaders covered 700 employees Workers in 11 U.S. states under new agreements

Locomotive engineers 300 employees BLET on Soo Line property

Railway carmen 231 employees Brotherhood of Railway Carmen across multiple properties

Clerical and supervisory staff 108 employees TCU/IAM and ARASA agreements in U.S.

Hostlers and laborers 26 employees NCF&O agreements on Soo Line and KCS

Electricians in tentative deals 76 employees IBEW tentative five-year agreements in U.S.

Historical Context

5 past events · Latest: Dec 29 (Neutral)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Dec 29	Earnings date set	Neutral	+0.0%	Announced timing and access details for Q4 and full-year 2025 results.
Dec 23	Community initiative	Positive	-0.0%	Reported record funds and food raised by the 2025 CPKC Holiday Train.
Dec 19	Industry merger update	Negative	-0.0%	Commented on potential impacts of the proposed UP‑NS merger and STB review.
Nov 19	Conference appearance	Neutral	-0.3%	Announced CEO and SVP participation in UBS Global Industrials conference webcast.
Nov 17	Operational recognition	Positive	-0.5%	Recognized grain elevators for safety and loading efficiency across North America.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent informational and reputational news has typically produced modest, mixed price reactions, with slight bias toward alignment between news tone and short-term moves.

Recent Company History

Over the past six months, CPKC’s news flow has focused on operations and investor communications rather than major shocks. An earnings date announcement on Dec. 29, 2025 had a flat reaction. Prior items highlighted community impact through the Holiday Train, recognition for grain elevator safety and efficiency, and participation in a UBS conference. The company also commented on the proposed UP‑NS merger. Against this backdrop, securing and ratifying five-year U.S. labor agreements extends the theme of operational continuity.

Key Terms

collective bargaining agreements

1 terms

collective bargaining agreements regulatory

"16 tentative collective bargaining agreements reached in recent weeks with various unions"

Collective bargaining agreements are written contracts negotiated between a group of employees, usually represented by a union, and their employer that set pay, hours, benefits and workplace rules. For investors, these agreements matter because they lock in labor costs, affect operational flexibility and can influence profit margins and the risk of strikes—think of them as a multi-year operating manual that shapes a company’s expenses and stability.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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CALGARY, AB, Jan. 15, 2026 Canadian Pacific Kansas City (TSX: CP) (NYSE: CP) (CPKC) today said that 16 tentative collective bargaining agreements reached in recent weeks with various unions in the United States have all been ratified.

All of the new, ratified five-year agreements provide increased wages to approximately 700 CPKC railroaders working in Illinois, Indiana, Louisiana, Minnesota, Mississippi, Missouri, New York, North Dakota, Oklahoma, Texas and Wisconsin.

"We are very pleased to see all these agreements ratified and thank our union leaders across the United States who have worked with us at the bargaining table to reach agreements that benefit hundreds of our railroaders," said Keith Creel, CPKC President and Chief Executive Officer. "With these agreements reached at the bargaining table and now ratified, we remain focused on serving our customers as we safely and efficiently move American business and contribute to economic growth."

One agreement has been reached and ratified with the Brotherhood of Locomotive Engineers and Trainmen (BLET) representing approximately 300 locomotive engineers on the Soo Line property operating trains in Illinois, Indiana, Minnesota, North Dakota and Wisconsin.

Five agreements have been reached and ratified with the Brotherhood of Railway Carmen representing 231 carmen on the Delaware & Hudson, Soo Line, Kansas City Southern, MidSouth, SouthRail, and TexMex properties.

Five agreements have been reached and ratified with the Transportation Communications Union (TCU/IAM) and American Railway and Airway Supervisors Association (ARASA) representing clerks, maintenance workers, and mechanical and engineering supervisory employees on the Delaware & Hudson, Soo Line, and Kansas City Southern properties. The agreements cover approximately 108 U.S. employees.

Two agreements have been reached and ratified with National Conference of Firemen and Oilers (NCF&O) representing 26 hostlers and laborers in the United States on Soo Line and Kansas City Southern properties.

Three additional agreements were reached and ratified with the Soo Line Locomotive and Car Foreman's Association (SLL&CFA) representing 19 U.S. mechanical foremen employees on the Soo Line property, the International Brotherhood of Boilermakers and Blacksmiths (IBB) representing three boilermakers on the Kansas City Southern property, and the International Association of Sheet Metal, Air, Rail and Transportation Mechanical Department (SMART-MD) representing one sheet metal worker on the Kansas City Southern property.

Two more tentative five-year collective agreements were reached in December with the International Brotherhood of Electrical Workers (IBEW) representing 76 electricians in the United States on the Soo Line and Kansas City Southern properties. These two tentative agreements remain subject to ratification.

About CPKC
With its global headquarters in Calgary, Alta., Canada, CPKC is the first and only single-line transnational railway linking Canada, the United States and México, with unrivaled access to major ports from Vancouver to Atlantic Canada to the Gulf Coast to Lázaro Cárdenas, México. Stretching approximately 20,000 route miles and employing 20,000 railroaders, CPKC provides North American customers unparalleled rail service and network reach to key markets across the continent. CPKC is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpkcr.com to learn more about the rail advantages of CPKC. CP-IR

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SOURCE CPKC

FAQ

What did CPKC (NYSE: CP) announce on January 15, 2026 about U.S. labor agreements?

CPKC announced 16 five-year collective bargaining agreements were ratified in the U.S., covering about 700 employees.

Which unions had ratified agreements with CPKC (CP) covering locomotive engineers?

An agreement was ratified with the Brotherhood of Locomotive Engineers and Trainmen (BLET) covering about 300 locomotive engineers on Soo Line property.

Are there any CPKC (CP) labor agreements still pending ratification?

Yes. Two tentative five-year agreements with the International Brotherhood of Electrical Workers (IBEW) covering 76 electricians remain subject to ratification.

How long are the new CPKC (CP) collective bargaining agreements effective for?

The announced agreements are five-year collective bargaining agreements.

Which U.S. states do the new CPKC (CP) ratified agreements cover?

The agreements cover employees in Illinois, Indiana, Louisiana, Minnesota, Mississippi, Missouri, New York, North Dakota, Oklahoma, Texas, and Wisconsin.