Canadian Pacific Kansas City Ltd. says profits dipped in its latest quarter even as revenues shot up on the back of a bumper grain crop.
The Calgary-based railway says net income nudged down nearly two per cent to $1.02 billion in the three months ended June 30 compared with $1.23 billion in the same period a year earlier.
Second-quarter revenues rose 13 per cent year-over-year to $4.16 billion from $3.70 billion.
CPKC says diluted earnings per share fell to $1.15 from $1.33 per share a year earlier.
Revenues from grain — the railway’s largest segment — rose by nearly a quarter from the year before while container revenues jumped 11 per cent.
Chief executive Keith Creel says leveraging the company’s status as the only freight railway to span all three countries in North America is paying off.
In a separate release, the company announced the retirement of board chair Isabelle Courville, who took the helm in May 2019 to become the first woman to chair a major North American freight railway, effective today.
This report by The Canadian Press was first published July 29, 2026.
Companies in this story: (TSX:CP)
