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 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.
Canadian Pacific Kansas City (CPKC) has announced plans to issue a lockout notice to the Teamsters Canada Rail Conference (TCRC) for August 22, 2024, if a negotiated settlement or binding interest arbitration is not reached. This decision follows a Canada Industrial Relations Board (CIRB) ruling that no essential services need to be maintained during a railway strike or lockout. CPKC aims to protect Canada's supply chains and mitigate uncertainty for customers.
Key points:
- CPKC offers binding interest arbitration to resolve the dispute
- Company will issue embargoes for toxic goods to ensure safe network exit
- CPKC withdraws offer for a modernized, time-based collective agreement
- Focus shifts to a three-year status quo-style contract with competitive wage increases
Canadian Pacific Kansas City (CPKC) reported strong Q2 2024 results, with revenues of $3.6 billion and core adjusted combined diluted EPS of $1.05, up 27% year-over-year. The company's reported operating ratio decreased by 550 basis points to 64.8%, while the core adjusted combined OR improved by 280 basis points to 61.8%. CPKC saw a 6% increase in volumes (Revenue Ton-Miles) and improvements in safety metrics. CEO Keith Creel attributed the robust performance to the advantages of CPKC's North American network and synergies from the merger. The company remains confident in meeting its full-year guidance and delivering sustainable growth for stakeholders.
Canadian Pacific Kansas City (CPKC) mourns the passing of Patrick J. Ottensmeyer, former President and CEO of Kansas City Southern (KCS). Ottensmeyer served as KCS's final President and CEO from 2015 until April 14, 2023, when CP and KCS combined to form CPKC. His career at KCS included roles as Executive VP of Sales and Marketing (2008-2015) and Executive VP and CFO (2006-2008). Ottensmeyer also served as the U.S. Chairman of the U.S. Chamber of Commerce's U.S.-Mexico Economic Council from 2019 to 2023, playing a key role in the formation of the USMCA. He received numerous industry awards, including the North American Rail Shippers Association Edward R. Hamberger Lifetime Achievement Award in 2023 and was twice named Railway Age Railroader of the Year. CPKC will honor Ottensmeyer by lowering flags to half-mast across its network.
Canadian Pacific Kansas City (CPKC) has announced a quarterly dividend of $0.19 per share on its outstanding Common Shares. The dividend will be paid on October 28, 2024, to shareholders of record as of September 27, 2024. This dividend is classified as an "eligible" dividend for Canadian tax purposes, which may have implications for shareholders under the Income Tax Act (Canada) and similar provincial/territorial legislation. CPKC, traded on both the Toronto Stock Exchange (TSX: CP) and the New York Stock Exchange (NYSE: CP), continues its practice of rewarding shareholders through regular dividend payments.
The CPKC Women's Open golf tournament in Calgary raised a record $4.3 million for heart health in Alberta. $3.8 million went to the Alberta Children's Hospital Foundation and $507,000 to the Red Deer Regional Health Foundation. Lauren Coughlin won her first LPGA Tour victory, finishing 13 under par and earning $390,000 from the $2.6 million purse.
CPKC's Has Heart campaign has raised over $22 million for children's heart health since 2014. Fundraising efforts included CPKC Birdies for Heart, matching donations during Heart Month, and contributions for birdies made on the 14th hole during the tournament. The funds will support early detection of heart defects in babies and enhance cardiac care in Alberta.
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?
