Strong Revenue and Earnings Growth
First quarter revenue was $3.8 billion, up 8% year-over-year. Earnings grew by 14%, producing $1.06 per share.
Record Performance in Safety
The company achieved a record performance from a safety perspective with significant improvements in train accidents and personal injuries.
Successful Divestment and Capital Return
CPKC divested its 50% stake in the Panama Canal Railway, focusing on core business, and announced a 20% increase in its quarterly dividend along with a new 4% share buyback program.
Operational Efficiency Gains
Train weight and length increased by 5% and 4% respectively, locomotive productivity improved by 3%, and fuel efficiency remained flat despite challenging winter conditions.
Growth in Mexico and Canada Trade
New trade opportunities emerged between Canada and Mexico, with increased refined fuels, LPGs, plastics, and grains being transported.
Strong Bulk Business Performance
Grain and potash experienced volume growth, with Canadian grain volumes up 12% and potash revenues up 10%.