Welcome to our dedicated page for Canadian Pacific Kansas City news (Ticker: CP), a resource for investors and traders seeking the latest updates and insights on Canadian Pacific Kansas City stock.
Canadian Pacific Kansas City Limited (CPKC) (TSX: CP, NYSE: CP) operates North America's only single-line transnational railway, connecting critical markets across Canada, the U.S., and Mexico. This page provides investors and industry stakeholders with direct access to CPKC's official announcements and strategic developments.
Find timely updates on earnings reports, infrastructure expansions, and sustainability initiatives like the Hydrogen Locomotive Program. Track operational milestones including cross-border service enhancements and partnerships driving supply chain efficiency.
Our curated collection includes press releases on:
• Financial performance and shareholder communications
• Network expansions and intermodal innovations
• Environmental initiatives and safety achievements
• Strategic collaborations with logistics partners
Bookmark this page for reliable updates directly from CPKC, ensuring you stay informed about the railway shaping continental trade.
Canadian Pacific Kansas City (CPKC) has initiated a lock out of Teamsters Canada Rail Conference (TCRC) employees, leading to a full shutdown of its Canadian rail network. The lock out affects approximately 3,200 locomotive engineers, conductors, and train and yard workers, as well as 80 rail traffic controllers. CPKC cites unrealistic demands from TCRC leadership as the reason for the impasse, stating these demands would impair the railway's ability to serve customers reliably and cost-effectively.
CPKC is proposing binding arbitration to resolve the dispute, emphasizing it as a fair process used successfully in the past. The company has offered a three-year status-quo contract with competitive wage increases for the TCRC – T&E division, and competitive wage increases for the TCRC - RCTC division. CPKC stresses the potential negative impact on Canada's economy and supply chains if the dispute continues into the fall peak shipping period.
Canadian Pacific Kansas City (CPKC) has announced plans to issue a lockout notice to the Teamsters Canada Rail Conference (TCRC) for August 22, 2024, if a negotiated settlement or binding interest arbitration is not reached. This decision follows a Canada Industrial Relations Board (CIRB) ruling that no essential services need to be maintained during a railway strike or lockout. CPKC aims to protect Canada's supply chains and mitigate uncertainty for customers.
Key points:
- CPKC offers binding interest arbitration to resolve the dispute
- Company will issue embargoes for toxic goods to ensure safe network exit
- CPKC withdraws offer for a modernized, time-based collective agreement
- Focus shifts to a three-year status quo-style contract with competitive wage increases
Canadian Pacific Kansas City (CPKC) reported strong Q2 2024 results, with revenues of $3.6 billion and core adjusted combined diluted EPS of $1.05, up 27% year-over-year. The company's reported operating ratio decreased by 550 basis points to 64.8%, while the core adjusted combined OR improved by 280 basis points to 61.8%. CPKC saw a 6% increase in volumes (Revenue Ton-Miles) and improvements in safety metrics. CEO Keith Creel attributed the robust performance to the advantages of CPKC's North American network and synergies from the merger. The company remains confident in meeting its full-year guidance and delivering sustainable growth for stakeholders.
Canadian Pacific Kansas City (CPKC) mourns the passing of Patrick J. Ottensmeyer, former President and CEO of Kansas City Southern (KCS). Ottensmeyer served as KCS's final President and CEO from 2015 until April 14, 2023, when CP and KCS combined to form CPKC. His career at KCS included roles as Executive VP of Sales and Marketing (2008-2015) and Executive VP and CFO (2006-2008). Ottensmeyer also served as the U.S. Chairman of the U.S. Chamber of Commerce's U.S.-Mexico Economic Council from 2019 to 2023, playing a key role in the formation of the USMCA. He received numerous industry awards, including the North American Rail Shippers Association Edward R. Hamberger Lifetime Achievement Award in 2023 and was twice named Railway Age Railroader of the Year. CPKC will honor Ottensmeyer by lowering flags to half-mast across its network.
Canadian Pacific Kansas City (CPKC) has announced a quarterly dividend of $0.19 per share on its outstanding Common Shares. The dividend will be paid on October 28, 2024, to shareholders of record as of September 27, 2024. This dividend is classified as an "eligible" dividend for Canadian tax purposes, which may have implications for shareholders under the Income Tax Act (Canada) and similar provincial/territorial legislation. CPKC, traded on both the Toronto Stock Exchange (TSX: CP) and the New York Stock Exchange (NYSE: CP), continues its practice of rewarding shareholders through regular dividend payments.
The CPKC Women's Open golf tournament in Calgary raised a record $4.3 million for heart health in Alberta. $3.8 million went to the Alberta Children's Hospital Foundation and $507,000 to the Red Deer Regional Health Foundation. Lauren Coughlin won her first LPGA Tour victory, finishing 13 under par and earning $390,000 from the $2.6 million purse.
CPKC's Has Heart campaign has raised over $22 million for children's heart health since 2014. Fundraising efforts included CPKC Birdies for Heart, matching donations during Heart Month, and contributions for birdies made on the 14th hole during the tournament. The funds will support early detection of heart defects in babies and enhance cardiac care in Alberta.
Canadian Pacific Kansas City (CPKC) is set to release its second-quarter 2024 financial and operating results after the market closes on July 30, 2024.
The company will host a conference call for the financial community at 4:30 p.m. ET (2:30 p.m. MT) on the same day to discuss the results.
Investors can access the webcast and presentation materials on CPKC's investor website. A replay of the call will be available until August 6, 2024, via phone for both domestic and international callers.
Canadian Pacific Kansas City (CPKC) provided an update on its collective bargaining with the Teamsters Canada Rail Conference (TCRC) on May 16, 2024. The negotiations are set to resume on May 17, 2024, with the assistance of federal mediators. The Federal Minister of Labour’s referral to the Canada Industrial Relations Board (CIRB) has added uncertainty regarding potential work stoppages. Submissions from CPKC and TCRC are due by May 21, 2024, with replies by May 31, 2024. A legal strike or lockout cannot occur until the CIRB makes a decision. CPKC proposed maintaining certain services during strikes or lockouts to avoid the CIRB process, which the TCRC declined. CPKC committed to providing regular updates.
Canadian Pacific Kansas City (CPKC) Executive Vice-President and Chief Marketing Officer John Brooks will speak at the 2024 Bank of America Transportation, Airlines and Industrials Conference on May 15, 2024. CPKC will offer a live audio webcast and replay for investors.
Canadian Pacific Kansas City (CPKC) President and Chief Executive Officer, Keith Creel, will address the 2024 RBC Capital Markets Canadian Industrials Conference on May 14, 2024. Investors can access the live audio webcast on investor.cpkcr.com.
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