Canadian Pacific Kansas City Limited operates a North American freight railway linking Canada, the United States and México through a single-line transnational network. Its services cover rail freight transportation, logistics and supply chain movements for commodities including grain, intermodal containers, energy products, chemicals, plastics, coal, fertilizer, potash, automotive traffic and other merchandise.
Recurring CPKC news covers operating results, network performance, grain-volume records, dividend actions, labor agreements, annual meeting outcomes and executive presentations at transportation and industrial conferences. Company updates also address rail-industry regulatory matters, including public positions on major railroad merger applications before the Surface Transportation Board.
Canadian Pacific Kansas City (CP) announced Q3 2024 results with revenues of $3.5 billion, up 6% from Q3 2023. The company reported diluted EPS of $0.90 and core adjusted combined diluted EPS of $0.99, an 8% increase year-over-year. Operating ratio increased by 120 basis points to 66.1%. Revenue Ton-Miles grew by 4%, while safety metrics improved with decreased FRA-reportable personal injury and train accident frequencies. CPKC maintains its guidance for double-digit core adjusted combined diluted EPS growth in 2024 versus 2023's $3.84, with RTMs expected to increase mid-single digits.
Canadian Pacific Kansas City (CP) has announced a quarterly dividend payment. The Board of Directors declared a dividend of $0.19 per share on outstanding Common Shares. Shareholders of record as of December 27, 2024, will receive the payment on January 27, 2025. The dividend qualifies as an 'eligible' dividend under the Income Tax Act (Canada) and similar provincial/territorial legislation.
The Surface Transportation Board (STB) has approved a transaction involving Canadian Pacific Kansas City (CPKC), CSX , and Genesee & Wyoming Inc. (G&W) to create a new direct CPKC-CSX interchange connection in Alabama. This approval, effective November 16, 2024, allows CPKC to acquire and operate a 52-mile segment between Meridian, Miss., and Myrtlewood, Ala., while CSX will operate lines east of Myrtlewood.
The transaction will establish a direct Class I-to-Class I interchange near Myrtlewood, connecting shippers in Mexico, Texas, and the Southeast U.S. This new east-west Class I route aims to create competition, reduce truck traffic, and expand rail transportation markets across the southern U.S., from Dallas to Atlanta and beyond. The Meridian & Bigbee Railroad (MNBR) will continue to provide local service between Meridian and Myrtlewood.
CPKC has announced the schedule and artist lineup for its 2024 Holiday Train program, starting on Nov. 21. The illuminated train will travel across CPKC's network in Canada and the U.S., raising donations for food banks and spreading holiday cheer. Key highlights include:
- Over $24.3 million and 5.3 million pounds of food collected since 1999
- 167 live music shows in 7 provinces and 13 states
- First-time visit to Saint John, N.B.
- Performances by artists like James Barker Band, Tyler Shaw, and KT Tunstall
The Holiday Express train will make 13 public stops in Louisiana, Mississippi, and Texas. All events are free, with attendees encouraged to donate to local food banks. Full schedules are available at cpkcr.com/holidaytrain.
Canadian Pacific Kansas City (CPKC) has announced that it will release its third-quarter 2024 financial and operating results after the market close on October 23, 2024. The company will discuss these results with the financial community in a conference call scheduled for 4:30 p.m. ET (2:30 p.m. MT) on the same day.
Interested parties can access the conference call via phone using the following numbers:
- Canada and U.S.: 800-225-9448
- International: 203-518-9708
- Conference ID: CPKCQ324
Callers are advised to dial in 10 minutes before the call. Additionally, a webcast and presentation materials will be available in the Investors section of CPKC's website at investor.cpkcr.com. A replay of the call will be accessible by phone through October 30, 2024.
Canadian Pacific Kansas City (CPKC) is participating in Rail Safety Week from Sept. 23 to 29, 2024, joining forces with Operation Lifesaver Canada, Operation Lifesaver Inc. in the U.S., and the Mexican Association of Railroads. The initiative aims to raise rail safety awareness across North America.
CPKC Police Service officers will conduct safety presentations in schools and communities throughout their network. In Mexico, CPKC de México representatives will spread the #SeeTracksThinkTrain message. The campaign emphasizes the importance of safe behavior around tracks and trains to prevent devastating incidents.
Key activities include:
- Operation Clear Track in Canada, featuring 'Look. Listen. Live.' rail decals at four crossings
- #STOPTrackTragedies promotion in the U.S.
- Collaboration with local law enforcement and communities
According to Operation Lifesaver Inc., approximately 2,100 North Americans are seriously injured or killed annually due to unsafe behavior around railway tracks and trains.
Canadian Pacific Kansas City (CPKC) has appointed Arturo Gutiérrez Hernández to its Board of Directors, effective Nov. 1, 2024. Gutiérrez, 58, from Monterrey, Mexico, is the CEO of Arca Continental, Latin America's second-largest Coca-Cola bottler. CPKC Chair Isabelle Courville praised Gutiérrez's extensive experience in Mexico and his seasoned leadership background. The appointment aims to enhance the board's geographic diversity and contribute to CPKC's success across North America. Gutiérrez has been with Arca Continental for 23 years, holding various leadership positions before becoming CEO in 2019. He holds a Law Degree from Escuela Libre de Derecho and a Master's Degree in Law from Harvard University.
Canadian Pacific Kansas City (CPKC) announced that its President and CEO, Keith Creel, will be speaking at the Morgan Stanley 12th Annual Laguna Conference on Sept. 11, 2024, at 10:35 a.m. ET. This event provides an opportunity for investors and analysts to gain insights into CPKC's operations and strategy directly from its top executive.
CPKC will offer a live audio webcast of the presentation, accessible through their investor relations website at investor.cpkcr.com. For those unable to attend or listen live, a replay of the webcast will be made available after the event concludes, allowing stakeholders to review the presentation at their convenience.
Canadian Pacific Kansas City (CPKC) announced it will restart railway operations in Canada by 00:01 ET on Monday, Aug. 26, following a Canada Industrial Relations Board (CIRB) order. This comes after CPKC initiated a lockout on Thursday, Aug. 22. The company has requested Teamsters Canada Rail Conference (TCRC) employees to return for the Sunday day shift to expedite economic recovery and minimize supply chain disruptions.
CPKC is implementing a restart plan for safe resumption of rail service across Canada and working with customers to normalize operations. The CIRB will hold a meeting on Thursday, Aug. 29, to discuss final binding interest arbitration. Existing collective agreements remain in force. CPKC expects it will take several weeks for the railway network to fully recover and additional time for supply chains to stabilize.
Canadian Pacific Kansas City (CPKC) expressed disappointment over the Teamsters Canada Rail Conference's (TCRC) decision to challenge the Canadian Minister of Labour's direction to resume railway operations. Following the Minister's order under section 107 of the Canada Labour Code, the Canada Industrial Relations Board (CIRB) held an urgent conference with CPKC. However, the TCRC refused to discuss service resumption and instead indicated their intention to challenge the constitutionality of the Minister's direction and the CIRB's discretion.
A follow-up conference is scheduled for 10:00 a.m. ET on Friday, Aug. 23, to hear further submissions. CPKC remains ready to resume service once ordered by the CIRB but is concerned about the delay's impact on serving the Canadian economy.