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), traded under the symbol CP on the NYSE and TSX, is a transnational freight railroad that regularly issues news on its operations, financial performance, labor relations and community initiatives. As a Class I railway with a single-line network linking Canada, the United States and México, its announcements reflect activity across approximately 20,000 route miles and multiple commodity and merchandise markets.
News from CPKC often covers quarterly and full-year financial and operating results, including revenues, earnings per share, operating ratios, volumes and safety statistics. These releases are typically accompanied by conference call and webcast details for the financial community, giving investors and analysts structured access to management’s commentary on the company’s performance and outlook.
Another recurring theme in CPKC’s news is labor relations. The company has reported numerous tentative and ratified five-year collective bargaining agreements with unions representing locomotive engineers, carmen, hostlers, laborers, clerks, maintenance workers, and mechanical and engineering supervisors across various U.S. properties. These updates outline wage provisions, work rules and the geographic scope of the agreements, and link them to CPKC’s ability to safely and efficiently serve customers and support economic activity.
CPKC’s news flow also includes recognition of grain elevators for safety and efficiency, reflecting its role in the agriculture supply chain, and statements on broader rail industry developments, such as regulatory merger applications involving other railroads. Community-focused stories, including the CPKC Holiday Train and the Tren Navideño, highlight fundraising and food collection efforts for local food banks in Canada, the United States and Mexico.
Investors, shippers and observers who follow CPKC news can expect a mix of financial disclosures, operational updates, labor agreements, industry commentary and community initiatives that together illustrate how the railway operates across North America.
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.
Canadian Pacific Kansas City (CPKC) is preparing to restart railway operations in Canada following the Labour Minister's announcement to direct the Canada Industrial Relations Board (CIRB) to impose final binding arbitration. CPKC will follow the CIRB's order once issued. The company acknowledges the government's intervention to protect Canada's national interest, despite preferring collective bargaining. CPKC CEO Keith Creel expressed readiness to welcome employees back and restore full railway operations. The work stoppage affected approximately 3,200 locomotive engineers, conductors, and train/yard workers, as well as 80 rail traffic controllers represented by the Teamsters Canada Rail Conference (TCRC).
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.
FAQ
What is the current stock price of Canadian Pacific Kansas City (CP)?
What is the market cap of Canadian Pacific Kansas City (CP)?
