Canadian Pacific Kansas City Limited declared a quarterly dividend of $0.268 per share, payable January 25, 2027 to holders of record at the close of business on December 31, 2026.
CP · Canadian Pacific Kansas City Ltd
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Canadian Pacific Kansas City Limited reported third-quarter 2026 revenues of $4,219 million, up 15%; core adjusted diluted EPS of $1.28, up 16%; and operating ratio of 64.8%, up 130 basis point from 63.5%.
CPKC reported third quarter revenues of $4.2 billion, 6% volume growth, a 61.9 operating ratio and 16% adjusted EPS growth. Year-to-date adjusted pre-cash flow rose 59% to $2.4 billion, while capital expenditures were $2 billion.
Canadian Pacific Kansas City reported third-quarter 2026 revenues of $4.2 billion, up 15 percent, diluted EPS of $1.04 and core adjusted diluted EPS of $1.28, while remaining on track for a strong 2026.
Canadian Pacific Kansas City Limited announced a C$1.8 billion Canadian debt offering by its wholly-owned subsidiary Canadian Pacific Railway Company, consisting of 4.20% notes due 2030, 4.60% notes due 2033, 4.90% notes due 2037 and 5.40% notes due 2056.
Metrics snapshot
Useful current figures from the complete screener profile.
Quarterly results
* Q4 derived as the full year minus Q1 to Q3.
AI Brief
Q2 FY26 earnings call · Jul 29, 2026TL;DR. CPKC reported Q2 2026 revenue up 13% to $4.2 billion and core adjusted diluted EPS up 13% to $1.27 on 4% volume growth, while GAAP diluted EPS fell 14% to $1.15, and management reiterated confidence in delivering another year of double-digit core adjusted EPS growth and an acceleration in volumes and operating leverage in the second half of 2026.
- + Q2 revenue rose 13% to $4.2 billion on 4% volume growth, with record freight revenues (excluding fuel) and all-time record GTMs.
- + Core adjusted diluted EPS grew 13% to $1.27 and operating income rose 10%, with management guiding to further sequential operating leverage and acceleration in the second half.
- + Management reiterated a 2026 outlook for double-digit core adjusted earnings growth and mid-single-digit volume growth, supported by an expanding synergy run-rate toward $1.4–$1.5 billion.
- + Year-to-date adjusted free cash was $1.3 billion, up 25% year over year, and the company returned $2.4 billion to shareholders in the first half.
- + Grain set a Q2 record with revenue up 24% on 19% volume growth, and automotive posted a record quarter with revenue up 19% on 8% volume growth.
- + Adjusted pre-cash up 25% and operating income up 10% despite cost headwinds, while full-year capex is tracking down 15% to $2.65 billion, supporting operating leverage.
- − GAAP diluted EPS fell 14% to $1.15 and reported operating ratio worsened 90 bps to 64.6%, reflecting higher fuel, casualty, and stock-based compensation costs.
- − Coal volumes fell 29% and revenue dropped 18%, with management expecting coal to remain a headwind in the second half.
- − Fuel expense rose 53% (49% FX-adjusted) on a 51% jump in diesel price, creating a ~130 bps headwind to OR.
- − Casualty costs, stock-based compensation, and incentive comp drove a combined ~150 bps OR and ~5¢ EPS headwind versus a year ago, with management noting elevated casualty expense in the first half.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Still-open targets the latest release did not restate under the same label.
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders Strong BuyIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Automotive Carloads | 64.6K | three months ended June 30, 2026 filing | — |
| Automotive Revenue ton-miles | 1.53B | three months ended June 30, 2026 filing | — |
| Carloads | 1.15M | the three months ended June 30, 2026 filing | — |
| Coal Carloads | 94.4K | three months ended June 30, 2026 filing | — |
| Coal Freight revenue per carload | $2,214 | three months ended June 30, 2026 filing | — |
| Coal Freight revenue per revenue ton-mile | 4.82 | three months ended June 30, 2026 filing | — |
| Coal Revenue ton-miles | 4.34B | three months ended June 30, 2026 filing | — |
| Core adjusted diluted EPS non-GAAP | $1.27 | the three months ended June 30, 2026 filing | — |
GAAP → non-GAAP reconciliationGAAP Diluted EPS as reported $1.15
+$0 Gain on sale of equity investment
-$0.03 Acquisition-related costs
-$0.01 Advisory costs related to rail consolidation matters
-$0.11 KCS purchase accounting
-$0.03 Tax effect of adjustments
= Core adjusted diluted EPS $1.27
|
|||
| Core adjusted operating ratio non-GAAP | 61.6% | the three months ended June 30, 2026 filing | — |
| Energy, Chemicals and Plastics Carloads | 140.4K | three months ended June 30, 2026 filing | — |
| Energy, Chemicals and Plastics Freight revenue per carload | $5,534 | three months ended June 30, 2026 filing | — |
| Energy, Chemicals and Plastics Revenue ton-miles | 9.72B | three months ended June 30, 2026 filing | — |
| Fertilizers and Sulphur Carloads | 16.1K | three months ended June 30, 2026 filing | — |
| Fertilizers and Sulphur Freight revenue per carload | $6,832 | three months ended June 30, 2026 filing | — |
| Fertilizers and Sulphur Freight revenue per revenue ton-mile | 8.96 | three months ended June 30, 2026 filing | — |
| Fertilizers and Sulphur Revenue ton-miles | 1.23B | three months ended June 30, 2026 filing | — |
| Forest Products Carloads | 31.1K | three months ended June 30, 2026 filing | — |
| Forest Products Freight revenue per carload | $6,367 | three months ended June 30, 2026 filing | — |
| Forest Products Freight revenue per revenue ton-mile | 9.02 | three months ended June 30, 2026 filing | — |
| Forest Products Revenue ton-miles | 2.19B | three months ended June 30, 2026 filing | — |
| Freight revenue per carload | $3,558 | the three months ended June 30, 2026 filing | — |
| Freight revenue per revenue ton-mile | 7.1 | the three months ended June 30, 2026 filing | — |
| Fuel efficiency (U.S. gallons of locomotive fuel consumed / 1,000 GTMs) | 0.99 | the three months ended June 30, 2026 filing | — |
| Fuel surcharge revenues | $608M | three months ended June 30, 2026 filing | — |
| Grain Carloads | 168K | three months ended June 30, 2026 filing | — |
| Grain Freight revenue per carload | $5,506 | three months ended June 30, 2026 filing | — |
| Grain Freight revenue per revenue ton-mile | 5.19 | three months ended June 30, 2026 filing | — |
| Grain Revenue ton-miles | 17.81B | three months ended June 30, 2026 filing | — |
| Gross ton-miles ("GTMs") | 107.59B | the three months ended June 30, 2026 filing | — |
| Intermodal Carloads | 454.7K | three months ended June 30, 2026 filing | — |
| Intermodal Revenue ton-miles | 10.3B | three months ended June 30, 2026 filing | — |
| Metals, Minerals and Consumer Products Carloads | 134.1K | three months ended June 30, 2026 filing | — |
| Metals, Minerals and Consumer Products Revenue ton-miles | 5.25B | three months ended June 30, 2026 filing | — |
| Operating ratio | 64.6% | three months ended June 30, 2026 filing | — |
| Potash Carloads | 45.7K | three months ended June 30, 2026 filing | — |
| Potash Freight revenue per carload | $4,026 | three months ended June 30, 2026 filing | — |
| Potash Freight revenue per revenue ton-mile | 3.53 | three months ended June 30, 2026 filing | — |
| Potash Revenue ton-miles | 5.22B | three months ended June 30, 2026 filing | — |
| Revenue ton-miles | 57.58B | the three months ended June 30, 2026 filing | — |
| Total employees (average) | 19,835 | the three months ended June 30, 2026 filing | — |
| Train miles | 12.39M | the three months ended June 30, 2026 filing | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Railroads — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
CP
this stock
Canadian Pacific Kansas City Ltd
|
$81.87B | +27.9% | — | — | 2.0% |
|
UNP
Union Pacific Corp
|
$179.73B | +30.7% | -10.0% | 23.6 | 5.1% |
|
CSX
Csx Corp
|
$95.95B | +43.6% | +17.6% | 27.0 | 2.0% |
|
CNI
Canadian National Railway Co
|
$76.27B | +28.7% | — | — | 0.7% |
|
NSC
Norfolk Southern Corp
|
$73.65B | +13.6% | +6.7% | 27.5 | 2.6% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every section- Filed
- Oct 30, 2026
- This year
- 24
Canadian Pacific Kansas City Limited declared a quarterly dividend of $0.268 per share, payable January 25, 2027 to holders of record at the close of business on December 31, 2026.
ViewPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| CP | +2.2% | +7.8% | +5.6% | +5.0% | +27.9% |
| SPY | +2.6% | -1.2% | +0.5% | -0.2% | +10.6% |
| vs SPY | -0.4% | +8.9% | +5.1% | +5.2% | +17.3% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.