(Calgary) Canadian Pacific Kansas City (CPKC) announced a decline in first quarter profits compared to last year.
The railway company reports having achieved net income attributable to majority shareholders of 775 million, or 83 cents per diluted share, for the quarter ended March 31.
That’s down from earnings of $800 million, or 86 cents per diluted share, a year earlier.
Canadian Pacific completed the acquisition of Kansas City Southern in December 2021, but had to wait to consolidate its operations until April 2023, after regulatory approval of the deal.
CPKC says revenues for its latest quarter totaled $3.52 billion, compared to $2.27 billion in the same quarter last year, before the railways’ operations were consolidated.
The company says its diluted adjusted basic earnings per share rose to 93 cents in its most recent quarter, up from 90 cents a year earlier.
Company in this dispatch: (TSX: CP)