$86.58
−0.89%Research · Oct 15, 2026
[CP] CPKC: Q3 2026 Earnings Test Grain Growth, Fuel Costs and Buybacks
CPKC grew Q2 2026 revenue 13% to C$4.16 billion while its core operating ratio worsened to 61.6%; Q3 tests whether grain volumes can outrun the coal decline.
Research · Sep 3, 2026
[CP] CPKC Thesis 2026: First Full Year of North American Network, Volume Inflects
Canadian Pacific Kansas City FY25 (Dec 31, 2025; CAD) at C$15.08B revenue (+4%). NI C$4.14B; EPS C$4.51 (+13%). OR 59.9% (-140bp). Q4 OR record 55.9%. First major post-merger buyback C$3.94B. FY26 guide: mid-single-digit volume + low double-digit earnings + 15% capex cut + 5% buyback authorization.