(Railfanning.org News Wire) — Canadian Pacific Kansas City’s third-quarter revenue rose 15% as freight volume increased, but higher fuel prices pressured operating efficiency and reported earnings per share grew just 3%.
Compared with the third quarter of 2025:
- Revenue: $4.2 billion, up 15% from $3.7 billion.
- Diluted earnings per share: $1.04, up 3% from $1.01.
- Core adjusted diluted earnings per share: $1.28, up 16% from $1.10.
- Operating ratio: 64.8%, worsening 1.3 percentage points from 63.5%.
- Core adjusted operating ratio: 61.9%, worsening 1.2 percentage points from 60.7%.
- Freight volume: Revenue ton-miles increased 6%.
What drove it: CPKC President and CEO Keith Creel pointed to growth in grain, intermodal and merchandise traffic. He said the railroad maintained strong service despite broader economic headwinds.
Worth watching: Higher fuel prices added 1.7 percentage points to the reported operating ratio and 1.9 percentage points to the core adjusted ratio, according to CPKC. A lower operating ratio indicates that expenses consume a smaller share of revenue.
Reported earnings per share grew more slowly than core adjusted earnings. Creel said CPKC remains on track to meet its commitments for the year, citing its operations and commercial pipeline. The announcement did not provide specific financial guidance.
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