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CPKC Posts Record Q2 Revenue on Grain, Automotive Strength

Canadian Pacific Kansas City reported second-quarter revenue of $3 billion, marking a company record with 13% year-over-year growth. Operating income climbed as the railroad benefited from robust shipments in grain, automotive, and energy sectors across its North American network.

Operating expenses rose 14% with fuel costs surging 53%. Volume measured by revenue ton-miles grew 4%, while carloads and containers remained flat.

The railroad set records in grain, energy, chemicals, plastics, and automotive during the period. Operational improvements included a 7% jump in average train speed and a 16% reduction in terminal dwell times. Canadian grain volumes surged 24% on record harvests and Mexico-bound shipments. Mineral volumes declined 29% due to British Columbia mining challenges, reducing overall revenue growth by 3%. Lumber shipments hit record levels in June despite housing headwinds.