CANADIAN PACIFIC KANSAS CITY LTD/CN (CP) Form 8-K — Oct 28, 2026
Canadian Pacific Kansas City reported Q3 2026 revenues of $4.2 billion, up 15% year over year, with diluted EPS of $1.04 and core adjusted diluted EPS of $1.28, up 16%. Management said the company remains on track to deliver a strong 2026. Growth was broad-based, led by grain (+29%) and intermodal (+22%), with revenue ton-miles up 6%. The reported operating ratio worsened 130 basis points to 64.8% on sharply higher fuel prices, which cost 170 basis points of reported OR.
Key figures
- Eps
- 1.04
- Revenue
- 4219000000
- Guidance
- On track to deliver a strong 2026 and meet commitments for the year
- Net Income
- 916000000
- Revenue Yoy
- 15%
- Ncib authorized
- 44.9 million shares through February 1, 2027
- Adjusted free cash q3
- $1,018 million
- Shares repurchased q3
- 11,542,470 shares for $1,487 million at avg $128.80
- Reported operating ratio
- 64.8% (up 130 bps YoY)
- Revenue ton miles growth
- 6% YoY
- Core adjusted diluted eps
- $1.28 (+16% YoY from $1.10)
- Commercial paper outstanding
- U.S. $1,535 million at 2.87% weighted-average rate
- Core adjusted operating ratio
- 61.9% (up 120 bps YoY)
- Adjusted net debt to adjusted ebitda
- 3.2x
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