CPKC reports lower first-quarter net income of $845M, down from $909M last year

A CPKC locomotive is seen on a train at the Canadian Pacific and Kansas City train yard in Mexico City, Friday Sept.19, 2025. THE CANADIAN PRESS/Adrian Wyld

CALGARY — Canadian Pacific Kansas City Ltd. reported net income of $845 million during the first quarter, down from $909 million during the same period last year.

That amounted to diluted earnings per share of 94 cents during the three months ended March 31, down from 97 cents during the prior-year quarter.

CPKC says its revenue was $3.7 billion during the quarter, down year-over-year from $3.8 billion.

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The company’s operating ratio, its operating expenses as a percentage of revenues, worsened to 66 per cent compared with 65.3 per cent during the same period last year.

Keith Creel, CEO of CPKC, says the company delivered volume growth despite ongoing market and macroeconomic headwinds, showing the competitive advantage of its North American network.

On Tuesday, CPKC announced a dividend increase of 17.5 per cent to 26.8 cents per share payable on July 27.

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This report by The Canadian Press was first published April 29, 2026.