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.
Canadian Pacific Railway Limited (CP) and Kansas City Southern (KCS) announced the Surface Transportation Board (STB) has accepted their joint merger application as complete. This milestone initiates a regulatory review aimed at enhancing the U.S. rail network's capacity and providing competitive transportation options. The STB has set a procedural schedule, with final briefs due by July 1, 2022, and expects to complete its review by Q4 2022. The merger is anticipated to support economic growth across North America.
Canadian Pacific (TSX: CP) has pledged $100,000 to the Canadian Red Cross to aid recovery efforts for the 2021 British Columbia Floods. This contribution supports residents affected by extreme weather and helps provide essential supplies. CP President Keith Creel emphasized the importance of assisting those in need while restoring the rail network. Additionally, CP will match employee donations to the Red Cross, encouraging support from employees across Canada and the United States. The company has also facilitated food deliveries and aid for local communities impacted by the disaster.
Canadian Pacific (TSX: CP) (NYSE: CP) announced the reopening of its railway between Kamloops, B.C., and Vancouver by midday on November 23, following severe damage from a November 14 atmospheric river event. Over 200mm of rain caused significant infrastructure damage across 30 sites. CP mobilized hundreds of employees, utilized over 80 pieces of heavy equipment, and moved 150,000 cubic yards of material to restore service. The company is now focusing on clearing backlogs and coordinating with customers to resume operations effectively and support local communities affected by the storm.
Canadian Pacific Railway Limited (CP) announced a C$2.2 billion debt offering comprising C$1.0 billion in 1.589% Notes due 2023 and C$1.2 billion in 2.540% Notes due 2028, set to close on November 24, 2021. The offering aims to partially fund the acquisition of Kansas City Southern (KCS) common and preferred stock. The offering proceeds will be guaranteed by CP and involves multiple financial institutions. Additionally, CP is issuing US$6.7 billion of notes under a shelf registration in the U.S. The news includes forward-looking statements regarding the transaction with KCS.
On November 17, 2021, Canadian Pacific Railway announced a significant debt issuance totaling US$6.7 billion. This includes US$1.5 billion of 1.350% Notes due 2024, US$1.0 billion of 1.750% Notes due 2026, US$1.4 billion of 2.450% Notes due 2031, US$1.0 billion of 3.000% Notes due 2041, and US$1.8 billion of 3.100% Notes due 2051, all guaranteed by CP. The proceeds will help fund the acquisition of Kansas City Southern, expected to close on December 2, 2021. The Canadian branch will also issue C$2.2 billion in notes concurrently.
On December 18, 2021, Canadian Pacific (CP) will host the "Holiday Train at Home" concert featuring artists like Steven Page and The Strumbellas. The event aims to raise awareness and support for food banks across North America, with CP donating $1.24 million to 198 food banks this year, bringing total contributions to $20.64 million since 1999. Despite the lack of in-person events due to ongoing circumstances, CP strives to engage communities through music while addressing hunger issues. The concert will be streamed on Facebook, YouTube, and CP's website at 6 p.m. MT / 8 p.m. ET.
Canadian Pacific (TSX: CP) will have its Executive Vice-President and Chief Marketing Officer, John Brooks, speak at the Scotiabank Transportation & Industrials Conference on Nov. 16, 2021, at 9:15 a.m. ET. The conference will be accessible via a live audio webcast on CP's investor site, with replays available afterwards. Canadian Pacific is a key transcontinental railway connecting major North American ports and providing comprehensive freight transportation, logistics solutions, and supply chain expertise.
Kansas City Southern (KSU) has announced a virtual Special Meeting of Stockholders set for December 10, 2021, to vote on the proposed merger with Canadian Pacific Railway (CP), valued at approximately $31 billion. The agreement includes a cash and stock offer of $300 per KCS share, representing a 34% premium. Shareholders of record as of October 14, 2021, are eligible to vote. The deal has unanimous board support and is subject to regulatory approvals. Completion is anticipated by the first quarter of 2022, with full integration expected within three years.
Canadian Pacific Railway Limited (CP) has scheduled a virtual Special Meeting of Shareholders for December 8, 2021, to vote on the issuance of common shares to Kansas City Southern (KCS) stockholders as part of a proposed USD $31 billion acquisition. The deal includes a 34% premium on KCS shares, valued at $300 each. Shareholders of record as of November 1, 2021, are eligible to vote. The transaction aims to establish the first U.S.-Mexico-Canada rail network, enhancing competition and capacity in the U.S. rail sector.
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