Canadian Pacific Kansas City reported record second-quarter freight revenues excluding fuel, up 13% year-over-year, and core adjusted diluted earnings per share of $1.27, a 13% increase. Overall volume grew 4%, with record volumes in grain, energy, chemicals, plastics, and automotive. Grain revenue surged 24% on 19% volume growth, while coal revenue fell 18% due to a 29% volume decline tied to customer mine production challenges. The core adjusted operating ratio rose 90 basis points to 61.6%, partly reflecting higher casualty costs and stock-based compensation. The company returned $2.4 billion to shareholders through buybacks and dividends in the first half and maintained its full-year capital expenditure guidance of $2.65 billion, a 15% reduction from the prior year.
Canadian Pacific Kansas City LimitedRecord Q2 revenue and 13% EPS growth, strong shareholder returns, and maintained capex guidance.