Canadian Pacific Reports Record Financial and Safety Results

Canadian Pacific Reports Record Financial and Safety Results

Overall volume, compared to the pandemic-affected second quarter of a year ago, was up 15% on a carload basis or 9% when measured by revenue ton-miles, the preferred metric of the Canadian railways. Volume for every commodity was up with the exception of potash. On time performance, measured by trip-plan compliance, was above 80% and continues to improve, Creel says. Chief Marketing Officer John Brooks expects the strong volume growth to continue well into 2022, particularly as retailers look to keep up with consumer demand and restock their depleted store and warehouse inventories. “We expect robust demand environment to continue as economies around the world continue to recover,” he says.

CP reported on Wednesday that second quarter operating income rose 6%, to $820 million, as revenue increased 15% to a record $2 billion. Earnings per share, adjusted for one-time merger-related costs, rose 27% to a record $1.03. CP also turned in a record safety performance, with a 34% decline in its employee personal injury rate and a 70% decline in its train accident rate. “This is only obtainable with the right safety culture,” Creel says.

CP’s operating ratio, adjusted for the impact of one-time items, was a second quarter record 55.3%. The reported operating ratio was 60.1%. “Behind those numbers obviously is a very impressive operating performance,” CEO Keith Creel says, rattling off a list of key metrics that improved, including train length and weight and car-miles per day.

Creel, in response to an analyst question, says CP remains ready to restart merger talks with Kansas City Southern if U.S. federal regulators reject Canadian National’s request to put KCS into a voting trust as a first step in their merger process.

  Also helping to boost CP’s volumes in the months ahead: The railway has won the contract to handle COSCO and OOCL international intermodal traffic from the ports of Vancouver and Montreal. The deal is worth $100 million annually, Brooks says.

The News Highlights

  • Canadian Pacific Reports Record Financial and Safety Results
  • Check the latest News news updates and information about business, finance and more.
Disclaimer: If you need to edit or update this news from compsmag then kindly contact us Learn more

For Latest News Follow us on Google News


Latest Headlines
  • Show all
  • Trending News
  • Popular By week
Review of Gas Station Simulator: Waste Time Managing a Gas Station (PC)
Review of Gas Station Simulator: Waste Time Managing a Gas Station (PC)
Gas Station Simulator is one of those janky games that grow on you the more you play. Most of the things that are simulated in the game can be considered ...
Ransomware attack before holiday leaves companies scrambling
Antitrust Breaking News:Google Flexed ‘Financial Muscle’
Antitrust cases have been happening more against big tech companies. Recently there has also been a complaint against Apple by a nonprofit group, Together We ...
Answers to the Amazon LG Gram Laptop Quiz: Get Rs. 10,000 in Amazon Pay Balance
Answers to the Amazon LG Gram Laptop Quiz: Get Rs. 10,000 in Amazon Pay Balance
The process is the same as the other Amazon quiz contests. You will have to download the Amazon mobile app from the Google Play Store or Apple App Store. ...
Following Tim Cook’s meeting with Vice President Joe Biden, Apple has committed to a new supply chain security programme
Following Tim Cook’s meeting with Vice President Joe Biden, Apple has committed to a new supply chain security programme
Apple announced it will establish a new program to drive continuous security improvements throughout the technology supply chain. As part of that program, ...
HADCO gets deal with medical cannabis company
HADCO gets deal with medical cannabis company
On Tuesday, the Huntington Area Development Council (HADCO) announced it has reached a deal with Trulieve WV Inc. on the sale of more than 70 acres of ...
This $2,700 robot dog will carry a single bottle of water for you
This Week: Fed Policy Update, Nike Earnings, New Home Sales
Economists had been expecting that the central bank could announce plans after the meeting to begin reducing the Fed’s $120 billion monthly bond purchases, ...
This $2,700 robot dog will carry a single bottle of water for you
Businesses in Minnesota can now apply for COVID Aid Grants from MN Main Street – WCCO
Funding will be halfway down the middle between the Twin Cities metro area and Greater Minnesota, DEED said. Businesses with accepted applications will ...
The Covid-19 Asia increase poses a challenge to the production of ceramic bits for iPhone and PlayStation
The Covid-19 Asia increase poses a challenge to the production of ceramic bits for iPhone and PlayStation
They are called MLCCs in the sense of multi-layer ceramic capacitors, and the proliferation of Covid-19 infections throughout East Asia increases the risk ...
Apple iPhones are the most popular smartphones in India’s used mobile market, according to OLX
Does the ip 13 ship with iOS 15
iOS 15 includes new features like the ability to start FaceTime calls with Android users, easier sharing on iMessage and updates to Apple Maps. In terms of ...
On August 25, Apple Hospitality REIT (APLE) climbs 0.69 percent on Strong Volume
On August 25, Apple Hospitality REIT (APLE) climbs 0.69 percent on Strong Volume
About Apple Hospitality REIT Inc Apple Hospitality REIT, Inc. is a real estate investment trust (‘REIT’) that owns one of the largest and most diverse ...
Show next
Compsmag - Latest News from tech, business and health
Logo