# CPKC reports revenue growth as North American freight volumes rise

- **Source:** https://pelavox.com/cpkc-reports-revenue-growth-as-north-american-freight-volumes-rise/
- **Publisher:** pelavox. (The voice of shipping)
- **Author:** Helena Pierce
- **Published:** 2026-10-30T23:00:00+00:00
- **Updated:** 2026-10-29T12:04:40+00:00
- **Section:** Business / Company Results
- **Type:** News
- **Topics:** Canada, Canadian Pacific Kansas City, CPKC, Financial Results, Intermodal Transport, Mexico, North America, Q3 2026, Rail Freight, Railway Operations, United States

Canadian Pacific Kansas City (CPKC) reported a 15% increase in third-quarter 2026 revenue, reaching C$4.2 billion compared with C$3.7 billion in the corresponding period of 2025, supported by higher freight volumes across its North American railway network.

The company recorded a 6% increase in traffic measured in revenue ton-miles, reflecting continued activity across its rail freight operations connecting Canada, the United States and Mexico. CPKC identified grain, intermodal and merchandise transportation among the markets contributing to its commercial momentum.

Reported diluted earnings per share increased by 3% to C$1.04 from C$1.01 a year earlier, while core adjusted diluted earnings per share rose by 16% to C$1.28.

Despite the revenue increase, the company’s reported operating ratio rose to 64.8% from 63.5% in the third quarter of 2025. Its core adjusted operating ratio also increased to 61.9% from 60.7%, indicating a higher proportion of revenue absorbed by operating expenses.

Higher fuel prices negatively affected the reported and core adjusted operating ratios by approximately 170 and 190 basis points, respectively, according to the company.

Keith Creel, President and Chief Executive Officer of CPKC, said the railway operator continued to deliver growth across several freight markets while maintaining service performance despite broader economic challenges.

### Freight network supports cross-border operations

CPKC operates an approximately 20,000-mile railway network spanning Canada, the United States and Mexico, providing rail and intermodal transportation services to major commercial and industrial markets.

Its operations cover the movement of bulk commodities, agricultural products, manufactured goods and containerised freight, linking production centres and distribution networks across North America.

The company’s third-quarter results reflect continued growth in freight transportation activity, although higher fuel expenses placed pressure on operating efficiency during the reporting period.

CPKC said it remains on track to meet its commitments for the full year 2026, supported by its commercial pipeline and operational performance.

The company continues to focus on developing its North American freight operations and expanding commercial opportunities across the markets served by its integrated railway network.

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Cite as: "CPKC reports revenue growth as North American freight volumes rise", pelavox., 31 October 2026, https://pelavox.com/cpkc-reports-revenue-growth-as-north-american-freight-volumes-rise/