Canadian Pacific KC (CP) Q1 Earnings Lag Estimates, Up Y/Y

Canadian Pacific Kansas City Limited (CP) reported first-quarter 2024 earnings (excluding 7 cents from non-recurring items) per share of 69 cents, which missed the Zacks Consensus Estimate of 70 cents. However, the bottom line increased 9.5% year over year. Quarterly revenues of $2.61 billion surpassed the Zacks Consensus Estimate of $2.59 billion and improved 0.8% year over year.Freight revenues, contributing 97.4% to the top line, rose 54.6% on a year-over-year basis. We had expected the metric to jump 55 ...