Welcome to our dedicated page for Canadian Pacific Kansas City news (Ticker: CP), a resource for investors and traders seeking the latest updates and insights on Canadian Pacific Kansas City stock.
Canadian Pacific Kansas City Limited (CPKC) (TSX: CP, NYSE: CP) is a Class I railroad operator that emerged from the merger of Canadian Pacific Railway and Kansas City Southern on April 14, 2023. Headquartered in Calgary, Alberta, CPKC is the first and only single-line transnational railway connecting Canada, the United States, and Mexico. With approximately 20,000 route miles, CPKC provides unparalleled rail service, offering freight transportation services, logistics solutions, and supply chain expertise to North American customers.
The merger has greatly expanded CPKC's network, allowing for single-line-haul services from Canada through the upper Midwest down to Texas, the Gulf of Mexico, and into Mexico. CPKC operates roughly 3,300 miles of rail in Mexico and is a significant player in cross-border and intra-Mexico freight transport. The company hauls a diverse mix of products, including grain, intermodal containers, energy products like crude and frac sand, chemicals, plastics, coal, fertilizer and potash, automotive products, and various other merchandise.
CPKC's most recent financial results highlight their strong performance in the fourth quarter of 2023. They reported revenues of $3.8 billion, a diluted earnings per share (EPS) of $1.10, and core adjusted combined diluted EPS of $1.18. The company has led the industry with the lowest frequency of train accidents among Class I railroads for 17 consecutive years. This achievement underscores CPKC's commitment to safety and reliability.
Looking forward to 2024, CPKC is optimistic about leveraging unique synergy opportunities and improving macroeconomic conditions to sustain their growth trajectory. Their dedication to service and safety continues to drive value for customers and shareholders alike. In addition to their operational achievements, CPKC is also involved in community investment programs, such as a notable $1.5 million commitment to the American Heart Association for heart research over the next three years.
CPKC's operational excellence is complemented by their strong financial management and strategic initiatives. They have successfully issued and managed commercial paper programs backed by significant revolving credit facilities. CPKC's acquisition-related costs and financial integration of Kansas City Southern have been managed efficiently, ensuring minimal disruption to their operational performance.
In summary, CPKC stands as a pivotal force in North American rail transport, providing extensive rail service that connects key markets across Canada, the United States, and Mexico. Their continued focus on safety, service excellence, and strategic growth initiatives make them a critical player in the industry.
The Surface Transportation Board (STB) has approved a transaction involving Canadian Pacific Kansas City (CPKC), CSX , and Genesee & Wyoming Inc. (G&W) to create a new direct CPKC-CSX interchange connection in Alabama. This approval, effective November 16, 2024, allows CPKC to acquire and operate a 52-mile segment between Meridian, Miss., and Myrtlewood, Ala., while CSX will operate lines east of Myrtlewood.
The transaction will establish a direct Class I-to-Class I interchange near Myrtlewood, connecting shippers in Mexico, Texas, and the Southeast U.S. This new east-west Class I route aims to create competition, reduce truck traffic, and expand rail transportation markets across the southern U.S., from Dallas to Atlanta and beyond. The Meridian & Bigbee Railroad (MNBR) will continue to provide local service between Meridian and Myrtlewood.
CPKC has announced the schedule and artist lineup for its 2024 Holiday Train program, starting on Nov. 21. The illuminated train will travel across CPKC's network in Canada and the U.S., raising donations for food banks and spreading holiday cheer. Key highlights include:
- Over $24.3 million and 5.3 million pounds of food collected since 1999
- 167 live music shows in 7 provinces and 13 states
- First-time visit to Saint John, N.B.
- Performances by artists like James Barker Band, Tyler Shaw, and KT Tunstall
The Holiday Express train will make 13 public stops in Louisiana, Mississippi, and Texas. All events are free, with attendees encouraged to donate to local food banks. Full schedules are available at cpkcr.com/holidaytrain.
Canadian Pacific Kansas City (CPKC) has announced that it will release its third-quarter 2024 financial and operating results after the market close on October 23, 2024. The company will discuss these results with the financial community in a conference call scheduled for 4:30 p.m. ET (2:30 p.m. MT) on the same day.
Interested parties can access the conference call via phone using the following numbers:
- Canada and U.S.: 800-225-9448
- International: 203-518-9708
- Conference ID: CPKCQ324
Callers are advised to dial in 10 minutes before the call. Additionally, a webcast and presentation materials will be available in the Investors section of CPKC's website at investor.cpkcr.com. A replay of the call will be accessible by phone through October 30, 2024.
Canadian Pacific Kansas City (CPKC) is participating in Rail Safety Week from Sept. 23 to 29, 2024, joining forces with Operation Lifesaver Canada, Operation Lifesaver Inc. in the U.S., and the Mexican Association of Railroads. The initiative aims to raise rail safety awareness across North America.
CPKC Police Service officers will conduct safety presentations in schools and communities throughout their network. In Mexico, CPKC de México representatives will spread the #SeeTracksThinkTrain message. The campaign emphasizes the importance of safe behavior around tracks and trains to prevent devastating incidents.
Key activities include:
- Operation Clear Track in Canada, featuring 'Look. Listen. Live.' rail decals at four crossings
- #STOPTrackTragedies promotion in the U.S.
- Collaboration with local law enforcement and communities
According to Operation Lifesaver Inc., approximately 2,100 North Americans are seriously injured or killed annually due to unsafe behavior around railway tracks and trains.
Canadian Pacific Kansas City (CPKC) has appointed Arturo Gutiérrez Hernández to its Board of Directors, effective Nov. 1, 2024. Gutiérrez, 58, from Monterrey, Mexico, is the CEO of Arca Continental, Latin America's second-largest Coca-Cola bottler. CPKC Chair Isabelle Courville praised Gutiérrez's extensive experience in Mexico and his seasoned leadership background. The appointment aims to enhance the board's geographic diversity and contribute to CPKC's success across North America. Gutiérrez has been with Arca Continental for 23 years, holding various leadership positions before becoming CEO in 2019. He holds a Law Degree from Escuela Libre de Derecho and a Master's Degree in Law from Harvard University.
Canadian Pacific Kansas City (CPKC) announced that its President and CEO, Keith Creel, will be speaking at the Morgan Stanley 12th Annual Laguna Conference on Sept. 11, 2024, at 10:35 a.m. ET. This event provides an opportunity for investors and analysts to gain insights into CPKC's operations and strategy directly from its top executive.
CPKC will offer a live audio webcast of the presentation, accessible through their investor relations website at investor.cpkcr.com. For those unable to attend or listen live, a replay of the webcast will be made available after the event concludes, allowing stakeholders to review the presentation at their convenience.
Canadian Pacific Kansas City (CPKC) announced it will restart railway operations in Canada by 00:01 ET on Monday, Aug. 26, following a Canada Industrial Relations Board (CIRB) order. This comes after CPKC initiated a lockout on Thursday, Aug. 22. The company has requested Teamsters Canada Rail Conference (TCRC) employees to return for the Sunday day shift to expedite economic recovery and minimize supply chain disruptions.
CPKC is implementing a restart plan for safe resumption of rail service across Canada and working with customers to normalize operations. The CIRB will hold a meeting on Thursday, Aug. 29, to discuss final binding interest arbitration. Existing collective agreements remain in force. CPKC expects it will take several weeks for the railway network to fully recover and additional time for supply chains to stabilize.
Canadian Pacific Kansas City (CPKC) expressed disappointment over the Teamsters Canada Rail Conference's (TCRC) decision to challenge the Canadian Minister of Labour's direction to resume railway operations. Following the Minister's order under section 107 of the Canada Labour Code, the Canada Industrial Relations Board (CIRB) held an urgent conference with CPKC. However, the TCRC refused to discuss service resumption and instead indicated their intention to challenge the constitutionality of the Minister's direction and the CIRB's discretion.
A follow-up conference is scheduled for 10:00 a.m. ET on Friday, Aug. 23, to hear further submissions. CPKC remains ready to resume service once ordered by the CIRB but is concerned about the delay's impact on serving the Canadian economy.
Canadian Pacific Kansas City (CPKC) is preparing to restart railway operations in Canada following the Labour Minister's announcement to direct the Canada Industrial Relations Board (CIRB) to impose final binding arbitration. CPKC will follow the CIRB's order once issued. The company acknowledges the government's intervention to protect Canada's national interest, despite preferring collective bargaining. CPKC CEO Keith Creel expressed readiness to welcome employees back and restore full railway operations. The work stoppage affected approximately 3,200 locomotive engineers, conductors, and train/yard workers, as well as 80 rail traffic controllers represented by the Teamsters Canada Rail Conference (TCRC).
Canadian Pacific Kansas City (CPKC) has initiated a lock out of Teamsters Canada Rail Conference (TCRC) employees, leading to a full shutdown of its Canadian rail network. The lock out affects approximately 3,200 locomotive engineers, conductors, and train and yard workers, as well as 80 rail traffic controllers. CPKC cites unrealistic demands from TCRC leadership as the reason for the impasse, stating these demands would impair the railway's ability to serve customers reliably and cost-effectively.
CPKC is proposing binding arbitration to resolve the dispute, emphasizing it as a fair process used successfully in the past. The company has offered a three-year status-quo contract with competitive wage increases for the TCRC – T&E division, and competitive wage increases for the TCRC - RCTC division. CPKC stresses the potential negative impact on Canada's economy and supply chains if the dispute continues into the fall peak shipping period.
FAQ
What is the current stock price of Canadian Pacific Kansas City (CP)?
What is the market cap of Canadian Pacific Kansas City (CP)?
What is Canadian Pacific Kansas City Limited (CPKC)?
Where is CPKC headquartered?
What types of freight does CPKC transport?
What was CPKC's revenue in Q4 2023?
How does CPKC ensure safety in its operations?
What is the significance of CPKC's merger with Kansas City Southern?
What community initiatives is CPKC involved in?
How does CPKC manage its financial operations?
What are CPKC's future growth prospects?
Where can I find more detailed financial information about CPKC?
