A 44% increase in revenue in the third quarter was not enough to offset higher expenses at Canadian Pacific Kansas City.
The railway reported net profit of CA$780 million (US$565 million) in the third quarter of 2023, down 12% year-over-year (y/y) from CA$891 million. Diluted earnings per share in the third quarter was US$0.84, compared with US$0.96 y/y. All figures except earnings per share are in Canadian dollars.
Overall revenue totaled CA$3.3 billion in the third quarter, compared with CA$2.3...
https://www.freightwaves.com/news/canadian-pacific-kansas-city-sees-q3-net-income-fall-12