Railroad News

Rail News Home Canadian Pacific 9/21/2022 Rail News: Canadian Pacific
The calculator enables CP's customers to determine the impact of their own emissions footprint and make decisions to reduce it by choosing lower carbon-emitting freight transportation service. Photo – cpr.ca

Rail News Home Canadian Pacific 8/16/2022 Rail News: Canadian Pacific
Canadian Pacific today announced it has received the required regulatory clearance from the Committee on Foreign Investment in the United States (CFIUS) for the proposed combination of CP and Kansas City Southern.CFIUS is an interagency committee authorized to review certain transactions involving foreign investment in the United States and certain real estate transactions by foreign persons in order to determine the impact such transactions may have on U.S. national security.CP completed its acquisition of KCS on Dec. 14, 2021. Upon the acquisition's closing, KCS shares were placed into a voting trust to ensure KCS operates independently of CP while the Surface Transportation Board completes its regulatory review of the companies' joint railroad control application to create Canadian Pacific Kansas City (CPKC).If the STB approves the merger, CPKC will become the only single-line railroad linking the United States, Mexico and Canada.The STB's review of CP's proposed control of KCS is expected to be completed in early 2023, CP officials said in a press release.

Rail News Home Canadian Pacific 7/28/2022 Rail News: Canadian Pacific
Canadian Pacific today announced it posted "strong" second-quarter 2022 results, including revenue of CA$2.2 billion, a 7% increase compared with the same period last year.The railroad reported operating income of CA$868 million, up from CA$820 million a year ago. Net income of CA$765 million for the quarter was down from CA$1.2 million posted in Q2 2021.CP reported diluted earnings per share (EPS) of 82 cents, down 56%, and an adjusted diluted EPS of 95 cents, down 8%.In addition, CP posted a Q2 2022 operating ratio (OR) of 60.6%, up from 60.1% a year ago, and an adjusted OR of 59.7%, up from 55.3% last year."After a challenging first quarter of the year, I'm proud of the resiliency and discipline the CP team demonstrated to deliver these results," said President and CEO Keith Creel in a press release.During the quarter ending June 30, CP incurred $19 million in costs related to its acquisition of Kansas City Southern."The strong demand environment for North American goods and commodities, coupled with our own unique growth initiatives and the promising upcoming Canadian grain crop, gives me confidence that we will continue to see momentum build into the back half of 2022 and beyond," said Creel.The proposed merger of CP and KCS is awaiting approval from the Surface Transportation Board. Earlier this week, the board announced it scheduled a public hearing on the acquisition for Sept. 28, 29 and 30.

Rail News Home Canadian Pacific 7/11/2022 Rail News: Canadian Pacific
If the merger is approved, about 14 additional trains are expected to pass through the Bettendorf area each day. Photo – cpr.ca