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Rail News: Canadian Pacific

Canadian Pacific posts record Q2 revenue


Canadian Pacific yesterday announced second-quarter financial results, including these Q2 records: revenue of CA$2.05 billion, an adjusted operating ratio (OR) of 55.3%, diluted earnings per share (EPS) of $1.86 and adjusted diluted EPS of $1.03.

CP's Q2 revenue climbed 15% from the year-ago period. Year over year, net income rose to CA$1.2 billion from CA$635 million.

The Class I's reported OR of 60.1%, which includes Kansas City Southern acquisition-related costs, increased by 310 basis points from 57% a year ago. The adjusted OR, which excludes the KCS acquisition-related costs, improved 170 basis points, CP officials said in a press release.

In addition, CP reported that Federal Railroad Administration (FRA)-reportable personal injuries declined 34% to a record-low 0.77 from 1.16 in Q2 2020, and its FRA-reportable train accident frequency decreased 70% versus Q2 2020's 1.19 to a record-low 0.36.

"Our industry-leading team of railroaders delivered another record quarter. I am particularly proud of our all-time record safety performance made possible by the collective efforts of the over 12,000-strong CP family," said President and Chief Executive Officer Keith Creel. "The robust base demand environment coupled with our unique growth opportunities has CP extremely well positioned as we head into the second half of the year."

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