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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 officially opened a new multi-commodity transload facility in Montréal on September 14, 2020. This facility, featuring 118,000 square feet of customizable space, aims to enhance service efficiency by providing intermodal transportation and distribution. Located near major transport links, it allows for faster and more flexible logistics solutions. CP's partnership with TYT Group will further bolster its capacity to serve new markets, with an additional 50 acres earmarked for future expansion. The company anticipates improved supply chain efficiencies as a result.
Canadian Pacific (TSX: CP) executives will participate in two virtual conferences in September 2020. John Brooks, Executive Vice-President and Chief Marketing Officer, is scheduled to speak at the Morgan Stanley 8th Annual Laguna Conference on September 15 at 8:15 a.m. ET. Nadeem Velani, Executive Vice-President and Chief Financial Officer, will present at the J.P. Morgan U.S. All Stars Conference on September 17 at 9 a.m. ET. Both events will be accessible through live audio webcasts, with replays available post-event.
On September 10, 2020, Canadian Pacific (TSX: CP) awarded 45 shippers with its annual Safe Shipper Award for exemplary safety in transporting hazardous materials by rail in 2019. These companies transported over 500 carloads of hazardous materials without any Non-Accidental Release (NAR) incidents. Coby Bullard, Vice-President of Sales and Marketing, emphasized the importance of safety in operations and recognized the critical role customers play in maintaining a safe transportation environment. For more details, visit cpr.ca.
Canadian Pacific (TSX: CP) executives will participate in two significant virtual conferences in September 2020. John Brooks, Executive Vice-President and Chief Marketing Officer, will address the Morgan Stanley 8th Annual Laguna Conference on September 15, 2020, at 11:15 a.m. ET. Nadeem Velani, Executive Vice-President and Chief Financial Officer, will speak at the J.P. Morgan U.S. All Stars Conference on September 17, 2020, at 9 a.m. ET. Both events will offer live webcasts and replays accessible via the company’s investor relations website.
On August 11, 2020, Canadian Pacific (CP) launched its international intermodal service through the Port of Saint John, marking its return to a deep-water Atlantic Ocean port after 25 years. The inaugural train transported containers from the Hapag-Lloyd vessel Detroit Express to various CP terminals across Canada and the U.S. CP plans to invest $90 million over three years to enhance the Central Maine & Quebec Railway and facilitate the port's $205 million modernization project. By year-end, CP anticipates offering 24-hour service between Saint John and Montreal.
Canadian Pacific (TSX: CP) is set to enhance economic growth in New Brunswick following its acquisition of Central Maine & Quebec Railway. This strategic move facilitates superior connectivity from Atlantic Canada to major North American markets like Montreal, Toronto, and Chicago. CP aims to develop the Port of Saint John, which is pivotal for handling diverse cargo types. This collaboration promises to drive significant investments and modernization efforts at the port, valued at $205 million, bolstering the region's competitive edge in transportation.
Canadian Pacific (CP) has achieved a record haul of 29.52 million metric tonnes (MMT) of Canadian grain and products in the 2019-2020 crop year, surpassing last year’s record by 10%. July marked a record month with 2.58 MMT transported. The efficiency of the 8,500-foot High Efficiency Product (HEP) train model played a key role, allowing 40% more grain per train compared to shorter models. CP continues to enhance its fleet with more high-capacity hopper cars, increasing grain transport capacity by 10% in weight and 15% in volume.
Canadian Pacific Railway Limited (CP) expresses deep sadness over the passing of former executive and board member William R. (Bill) Fatt on August 4, 2020. Fatt served on the board since September 2016 and was previously CP's Chief Financial Officer. Known for his strong business acumen, he notably led Canadian Pacific Hotels before its transition to Fairmont Hotels & Resorts. CP's CEO Keith Creel acknowledged Fatt's invaluable contributions and risk-taking spirit, while the board chair highlighted the lasting impact of his leadership on the company.
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