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1/29/2026
CPKC yesterday reported fourth-quarter 2025 revenue rose 1% to C$3.9 billion, net income declined 1% to C$1 billion and diluted earnings per share fell about 6% to $1.20 compared to the same period in 2024.
Operating income climbed 3.34% to C$1.6 billion. CPKC posted an adjusted operating ratio (OR) of 55.9% for the quarter.
"Our fourth quarter and full-year results demonstrate exceptional execution in a challenging market by controlling what we could control," said President and CEO Keith Creel in a press release. "Despite macroeconomic and trade policy headwinds in 2025, our precision scheduled railroading model again enabled us to control costs and deliver a record core adjusted operating ratio while capitalizing on our unique growth opportunities."
For the full-year 2025, the Class I reported revenue increased 4% to C$15.1 billion and net income rose 11.4% to C$4.1 billion. Diluted EPS was $4.51 for the year, compared to $3.98 in 2024. The railroad's OR for the year was 62.8% and a record low core adjusted OR of 59.9%.
In 2025, for the third consecutive year, CPKC reported the lowest U.S. Federal Railroad Administration-reportable train accident frequency among Class Is, building on Canadian Pacific's legacy of 17 consecutive years of industry leadership, CPKC officials said.
"Safety is at the core of everything that we do, and our performance reflects the dedication of our railroaders and their unwavering focus on operational excellence," Creel added. "Looking ahead to 2026, record grain harvests and a pipeline of unique growth opportunities position this company to continue producing differentiated results."