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4/30/2026
CPKC yesterday announced first-quarter revenue of CA$3.7 billion, down 2%, and volume of 54.7 billion revenue ton-miles, up 2% compared to Q1 2025 results.
The Class I logged operating income of CA$1.3 billion, down 4%, and net income of $846 million, down 7% from $910 million last year. Operating expenses totaled CA$2.4 billion, a 1% decrease year over year. As a result, CPKC's operating ratio for the quarter came in at 66, worsening by 70 basis points from 65.3 in Q1 2025. The Class I's adjusted OR was 63, worsening by 50 basis points.
Diluted earnings per share dipped 3% to CA94 cents. Adjusted diluted EPS fell 2% to CA$1.04. In the quarter, capital expenditures declined 7%, consistent with CPKC's 2026 capital outlook of CA$2.65 billion.
"Despite ongoing market and macroeconomic headwinds, we delivered volume growth demonstrating the resiliency and competitive advantage of our unrivalled North American network," said CPKC president and CEO Keith Creel in a press release.