(Calgary) Canadian Pacific Kansas City posted first-quarter net income of $800 million on Wednesday, up more than 35% from $590 million in the same period last year.
The Calgary-based rail carrier said earnings per share were 86 cents, up more than 36% from 63 cents a year earlier.
Revenue for the quarter ended March 31 was $2.27 billion, up more than 23% from the $1.84 billion in the prior quarter.
The results reported Wednesday were the first the company has made in its new form since Canadian Pacific Railway completed its acquisition of Kansas City Southern Railway on April 14. US rail regulators approved the $31 billion transaction in March.
CPKC’s adjusted base profit, which excludes certain significant items and accounting items related to the Kansas City Southern acquisition, rose to 90 cents from 67 cents a year earlier.
Cargo volumes, measured in revenue ton-miles, were up 11% from a year ago.
