CPKC(US:CP) Prnewswireยท2024-10-23 20:05Core Insights - Canadian Pacific Kansas City (CPKC) reported strong third-quarter results with revenues of $3.5 billion, a 6% increase from $3.3 billion in Q3 2023, and diluted earnings per share (EPS) of $0.90, up from $0.84 in the same period last year [1][5][14] - The company emphasized its operational excellence and commitment to safety and customer service, which have contributed to its revenue growth despite facing temporary challenges [1][5] - CPKC expects mid-single-digit growth in Revenue Ton-Miles (RTMs) for 2024 and anticipates double-digit growth in core adjusted combined diluted EPS compared to 2023 [1][5] Financial Performance - Revenues for Q3 2024 were $3.5 billion, up from $3.3 billion in Q3 2023, marking a 6% increase [1][14] - Reported operating ratio (OR) increased by 120 basis points to 66.1% from 64.9% in Q3 2023, while core adjusted combined OR also rose by 120 basis points to 62.9% from 61.7% [1][14] - Core adjusted combined diluted EPS increased by 8% to $0.99 from $0.92 in Q3 2023 [1][14] - Net income for Q3 2024 was $837 million, compared to $780 million in Q3 2023 [8][14] Operational Metrics - Volumes, measured in Revenue Ton-Miles (RTMs), increased by 4% [1] - The Federal Railroad Administration (FRA)-reportable personal injury frequency decreased to 0.85 from 1.02 in Q3 2023, and train accident frequency decreased to 1.27 from 1.38 [1][5] Future Outlook - CPKC anticipates mid-single-digit growth in RTMs for 2024 compared to 2023 [1] - The company expects core adjusted combined diluted EPS to grow in double digits relative to the 2023 figure of $3.84 [1][5]