Financial Performance - In Q2 2024, the Company reported diluted EPS of $0.97, a decrease of 32% year-over-year, while core adjusted combined diluted EPS increased by 27% to $1.05[91]. - Total revenues for Q2 2024 increased by 14% to $3,603 million, driven by higher volumes, the KCS acquisition, and increased freight revenue per revenue ton-mile (RTM)[92]. - The Company achieved a core adjusted combined operating ratio of 61.8% in Q2 2024, improving by 280 basis points compared to the same period in 2023[100]. - The reported operating ratio for the second quarter of 2024 was 64.8%, compared to 70.3% in 2023[208]. - The core adjusted combined operating ratio for the first half of 2024 was 62.9%, an improvement from 64.0% in 2023[208]. - CPKC's diluted earnings per share for Q2 2024 was $0.97, down from $1.42 in Q2 2023, while for the first six months of 2024, it was $1.80 compared to $2.28 in the same period of 2023[202]. - Core adjusted combined diluted earnings per share for Q2 2024 increased to $1.05 from $0.83 in Q2 2023, and for the first six months of 2024, it rose to $1.98 from $1.73 in the same period of 2023[202]. Revenue and Freight Performance - Freight revenues in Q2 2024 rose by 14% to $3,534 million, with non-freight revenues slightly decreasing by 5% to $69 million[103][104]. - For the six months ended June 30, 2024, freight revenues increased to $1,395 million, a 33% increase from $1,052 million in 2023[114]. - Revenue ton-miles (RTMs) increased to 27,810 million, a 33% increase from 20,961 million in 2023[114]. - Coal freight revenues for the second quarter of 2024 reached $236 million, an 8% increase from $219 million in 2023[115]. - Potash freight revenues for the second quarter of 2024 were $180 million, a 25% increase from $144 million in 2023[119]. - Fertilizers and sulphur freight revenues for the second quarter of 2024 increased to $103 million, a 16% increase from $89 million in 2023[122]. - Forest products freight revenues for the second quarter of 2024 were $203 million, a 9% increase from $187 million in 2023[124]. - Energy, chemicals, and plastics freight revenues for the second quarter of 2024 reached $695 million, a 21% increase from $575 million in 2023[127]. - Automotive freight revenues for the second quarter of 2024 increased to $358 million, a 39% increase from $257 million in 2023[131]. - Intermodal freight revenues for the first six months of 2024 were $1,268 million, an 11% increase from $1,145 million in 2023[134]. Expenses and Costs - Total operating expenses for the second quarter of 2024 were $2,336 million, a 5% increase from $2,230 million in 2023[135]. - Fuel expenses for the second quarter of 2024 increased by $69 million, primarily due to higher fuel prices and the impact of the KCS acquisition[139]. - Compensation and benefits expenses for the first six months of 2024 rose to $1,302 million, a 19% increase from $1,097 million in 2023[136]. - The increase in Depreciation and amortization expense in the first six months of 2024 was primarily due to the KCS acquisition, amounting to $255 million[143]. - Purchased services and other expense increased by $235 million in the first six months of 2024, largely due to the KCS acquisition and cost inflation[144]. Cash Flow and Financial Position - As of June 30, 2024, the Company had $557 million in cash and cash equivalents, an increase from $464 million at December 31, 2023[167]. - During the first six months of 2024, cash provided by operating activities increased by $519 million compared to the same period in 2023, primarily due to higher cash generating income[174]. - Cash used in financing activities was $895 million in the first six months of 2024, an increase of $17 million compared to $878 million in the same period of 2023[177]. - The Company has total commercial paper borrowings outstanding of $536 million as of June 30, 2024, down from $800 million at December 31, 2023[169]. - The Company has contractual cash requirements of $3,684 million due within the next 12 months, including debt and finance leases[171]. - As of June 30, 2024, the Company's long-term debt stood at $18,772 million, a decrease from $19,169 million at December 31, 2023[187]. Tax and Interest - Income tax expense was $292 million in the second quarter of 2024, a change of $7,964 million from a recovery of $7,672 million in the same period of 2023[153]. - The effective tax rate for the second quarter of 2024 was 24.40%, compared to 120.88% in the same period of 2023[155]. - Net interest expense was $406 million in the first six months of 2024, an increase of $48 million, or 13%, from $358 million in the same period of 2023[151]. - The company is exposed to interest rate risk, with a hypothetical one percentage point decrease in interest rates increasing the fair value of fixed-rate debt by approximately $1.8 billion as of June 30, 2024[221]. - The company may enter into forward rate agreements and swap agreements to manage interest rate exposure[220]. Acquisition Impact - The KCS acquisition significantly impacted revenue growth across various segments, including Energy, chemicals, and plastics, contributing to higher volumes and freight rates[128]. - Acquisition-related costs in the first six months of 2024 amounted to $54 million, impacting diluted EPS by 4 cents, while in the first six months of 2023, these costs were $145 million, impacting diluted EPS by 13 cents[198][199]. - KCS purchase accounting for the first six months of 2024 was $170 million, unfavorably impacting diluted EPS by 13 cents, compared to $123 million in the same period of 2023, which impacted diluted EPS by 11 cents[200][201]. - CPKC's acquisition of KCS began consolidating on April 14, 2023, after previously accounting for it under the equity method since December 14, 2021[193]. - In the first half of 2024, acquisition-related costs for the KCS acquisition totaled $54 million, negatively impacting the operating ratio by 0.8%[204]. Other Financial Metrics - Other income was $40 million in the second quarter of 2024, a change of $61 million from an expense of $21 million in the same period of 2023[147]. - The unfavorable impact of fuel prices on Operating income was $67 million in the first six months of 2024, leading to a decrease in Total revenues of $70 million[164]. - The Company recognized $26 million and $230 million of equity earnings from KCS for the periods from April 1 to April 13, 2023, and January 1 to April 13, 2023, respectively[146]. - Deferred tax recoveries related to changes in the outside basis difference on the equity investment in KCS amounted to $7,855 million in the first six months of 2023, positively impacting diluted EPS by $8.42[199]. - Management believes that excluding significant items from GAAP results provides a clearer view of CPKC's financial performance for multi-period assessments[194].

Release: July 30, 2024 CPKC's strong second-quarter results demonstrate advantages of North American network; carrying momentum into second half of 2024 Calgary – Canadian Pacific Kansas City (TSX: CP) (NYSE: CP) (CPKC) today announced its second-quarter results, including revenues of $3.6 billion, diluted earnings per share (EPS) of $0.97 and core adjusted combined diluted EPS of $1.05. 1, 2 "Our excellent second quarter results showcase how the advantages of this unrivaled North American network are being ...

CALGARY, AB, July 30, 2024 /PRNewswire/ - Canadian Pacific Kansas City (TSX: CP) (NYSE: CP) (CPKC) today announced its second-quarter results, including revenues of $3.6 billion, diluted earnings per share (EPS) of $0.97 and core adjusted combined diluted EPS1, 2 of $1.05."Our excellent second quarter results showcase how the advantages of this unrivaled North American network are being realized," said Keith Creel, CPKC President and Chief Executive Officer. "These results are a direct reflection of the ded ...

CALGARY, AB, July 29, 2024 /PRNewswire/ - It is with great sadness that Canadian Pacific Kansas City (TSX: CP) (NYSE: CP) (CPKC) mourns the passing of former Kansas City Southern (KCS) President and CEO Patrick J. Ottensmeyer."Pat's vision and leadership played a monumental role in the great history of Kansas City Southern as he helped reshape the railway industry," said Keith Creel, CPKC President and CEO. "We have lost a remarkable leader and a cherished friend. Pat's legacy lives on and can be seen in th ...

Wall Street analysts expect Canadian Pacific Kansas City (CP) to post quarterly earnings of $0.74 per share in its upcoming report, which indicates a year-over-year increase of 19.4%. Revenues are expected to be $2.6 billion, up 10.2% from the year-ago quarter.Over the last 30 days, there has been an upward revision of 0.8% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course o ...

Canadian Pacific Kansas City (CP) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released ...

Canadian Pacific Kansas City Limited (CP) is scheduled to report second-quarter 2024 results on Jul 30 after market close.CP has a mixed earnings surprise history, having surpassed the Zacks Consensus Estimate in two of the trailing four quarters and missing twice. The average miss is 1.32%.Rising operating expenses are adversely impacting the company’s bottom line. This surge in operating expenses is primarily driven by the increase in labor costs and fuel costs, thereby hindering Canadian Pacific’s perfor ...

CALGARY, AB, July 9, 2024 /PRNewswire/ - Canadian Pacific Kansas City (TSX: CP) (NYSE: CP) (CPKC) will release its second-quarter 2024 financial and operating results after the market close on July 30, 2024. CPKC will discuss its results with the financial community in a conference call beginning at 4:30 p.m. ET (2:30 p.m. MT) on July 30, 2024. Conference Call Access Canada and U.S.: 800-225-9448 International: 203-518-9708 *Conference ID: CPKCQ224 Callers should dial in 10 minutes prior to the call.   Webc ...

Jonathan Kitchen Introduction I have been looking forward to writing this article, as I get to present two stocks that I recently spent a considerable amount of capital on - one of them is a new addition to what is now a 21-stock dividend growth portfolio! As most of my readers may know, I don't invest on a regular basis. In general, my transaction count is very low. While it makes sense for most investors to put a set amount into well-diversified ETFs on a regular basis (i.e., $500 a month), I am apply ...

JACKSONVILLE, Fla., May 30, 2024 (GLOBE NEWSWIRE) -- Duos Technologies Group, Inc. ("Duos" or the "Company") (NASDAQ:DUOT), through its operating subsidiary Duos Technologies, Inc., a provider of Machine Vision and Artificial Intelligence ("AI") to analyze fast moving freight, passenger and transit trains and trucks, has entered into a three-year agreement with Canadian Pacific Kansas City (CPKC) (NYSE:CP) (TSX:CP) allowing CPKC to use Duos developed Artificial Intelligence Solutions for mechanical inspecti ...