Earnings Releases·Oct 28, 2026, 4:20 PM ET

Canadian Pacific Kansas City — Third Quarter 2026 Earnings Summary

Total revenues rose 15% year-over-year to $4.2 billion, while diluted EPS increased 3% to $1.04 and core adjusted EPS grew 16% to $1.28; however, reported and core adjusted operating ratios widened by 130 and 120 basis points respectively, primarily due to higher fuel prices.
Management reaffirmed confidence in delivering strong full-year 2026 results, citing a robust commercial pipeline and disciplined execution despite macroeconomic headwinds.
The company executed significant capital returns, repurchasing 11.5 million shares for $1.49 billion and declaring a $0.268 per share dividend, while also issuing $1.2 billion in long-term notes during the first nine months of 2026.
Revenue growth was broad-based across key segments, with grain revenues up 29% and intermodal revenues up 22%, offsetting a slight 1% decline in coal revenues.