Canadian Pacific Kansas City Ltd. is reporting a jump in profits in its latest quarter amid higher revenue from grain and energy shipments, even as container cargo slumped.
The country’s second biggest railway says its net income rose 18 per cent to $1.20 billion in the three months ended Dec. 31 from $1.02 billion in the same period a year earlier.
CPKC’s fourth-quarter revenues rose three per cent to $3.87 billion from $3.78 billion the year before.
Diluted earnings increased to $1.28 per share from $1.10 per share, beating analysts’ expectations.
The Calgary-based company says revenues from grain and energy — its two biggest segments — rose 12 per cent and three per cent, respectively, while revenue from container shipments fell six per cent.
Earlier Wednesday, the board declared a quarterly dividend of 19 cents per share payable on April 28.
This report by The Canadian Press was first published Jan. 29, 2025.
Companies in this story: (TSX:CP)
