CPKC posts higher Q3 earnings with revenue up three per cent

Canadian Pacific Kansas City (CPKC) reported third-quarter 2025 revenues of $3.7 billion, up three per cent from $3.5 billion a year earlier, with diluted earnings per share of $1.01 and core adjusted diluted EPS of $1.10.

“CPKC once again created profitable, sustainable growth in the third quarter, while navigating challenging macroeconomic conditions,” said Keith Creel, CPKC president and chief executive officer. “Through our powerful network and unique partnerships, we are providing strong service and bringing innovative solutions to the market for our customers. I remain confident in our ability to continue delivering on our long-term value proposition.”

The company said volumes, measured in revenue ton-miles, increased five per cent. Its reported operating ratio improved to 63.5 per cent from 66.1 per cent in the same period last year, while core adjusted operating ratio fell to 60.7 per cent from 62.9 per cent.

CPKC also reported a decrease in safety incidents, with its Federal Railroad Administration (FRA)-reportable personal injury frequency dropping to 0.92 from 0.95, and train accident frequency falling to 1.15 from 1.43 year-over-year.

“Our team of dedicated railroaders across CPKC’s unrivalled network continues to do what we said we would do, safely driving growth and opening new markets as we keep our commitments to our stakeholders,” Creel said. “Through strong execution of our strategy, focused on leveraging our North American footprint, we continue to expect to deliver on our full-year 2025 guidance.”