Calgary Alberta - Canadian Pacific Kansas City (CPKC) says its net income for the first quarter of 2023 was $800 million, up more than 35 percent from $590 million a year earlier.
 
The Calgary-based railway company says diluted earnings per share were 86 cents, up more than 36 percent from 63 cents the same quarter last year.
 
Revenues for the quarter ended 31 Mar 2023 were $2.27 billion, up more than 23 percent from $1.84 billion a year earlier.
 
This is the first earnings report since Canadian Pacific Railway officially combined with Kansas City Southern Railway on 14 Apr 2023 after the U.S. rail regulator approved the US$31 billion deal in March.
 
CPKC says core adjusted earnings per share, which exclude significant items and accounting related to its purchase of Kansas City Southern, were 90 cents, up from 67 cents a year earlier.
 
Volumes, as measured in revenue ton-miles, were up 11 percent compared with a year earlier.
 
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