CPKC set a second-quarter revenue record and saw its operating income rise on the strength of grain, automotive, and energy-related shipments.
"The performance, if you look at it, reflects the strength of the CPKC (NYSE: CP) franchise, the resilience of our business mix, and the continued benefits of uniquely connecting Canada, U.S., and Mexico," Chief Executive Keith Creel told ******* ysts and investors on the railway's earnings call Wednesday.
Operating income increased 10%, to US$1.06 billion, as revenue grew 13%, to $3 billion. Earnings per share, adjusted for the impact of one-time items, increased 13%, to $0.91.
The railway's operating ratio was 64.6%, a 0.9-point increase over a year ago as operating expenses increased 14%, with fuel costs up 53% for the quarter.
Volume was up 4% for the quarter when based on revenue ton-miles, CPKC's preferred metric, but flat when measured by carloads and containers. "During the quarter, we established volume records in grain; energy, chemicals, plastics; and automotive," Creel said.
#revenue #increased #cpkc
"The performance, if you look at it, reflects the strength of the CPKC (NYSE: CP) franchise, the resilience of our business mix, and the continued benefits of uniquely connecting Canada, U.S., and Mexico," Chief Executive Keith Creel told ******* ysts and investors on the railway's earnings call Wednesday.
Operating income increased 10%, to US$1.06 billion, as revenue grew 13%, to $3 billion. Earnings per share, adjusted for the impact of one-time items, increased 13%, to $0.91.
The railway's operating ratio was 64.6%, a 0.9-point increase over a year ago as operating expenses increased 14%, with fuel costs up 53% for the quarter.
Volume was up 4% for the quarter when based on revenue ton-miles, CPKC's preferred metric, but flat when measured by carloads and containers. "During the quarter, we established volume records in grain; energy, chemicals, plastics; and automotive," Creel said.
#revenue #increased #cpkc
1 day ago
