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CPKC Reports Strong Q2 Profit Growth Despite Halt in Steel Shipments

The integrated North American rail network offset a 50% U.S. steel tariff shutdown by boosting frac sand, grain, coal shipments to uphold the company’s full-year EPS growth forecast.

Overview

  • CPKC’s Q2 net income rose to $1.23 billion, up from $903 million a year earlier.
  • Revenues grew 3 percent to $3.7 billion versus $3.6 billion in Q2 2024.
  • Diluted EPS increased to $1.33 from $0.97 in the prior-year quarter, and the operating ratio improved to 63.7 percent.
  • The company maintained its 2025 adjusted EPS growth outlook of 10–14 percent despite tariffs and market uncertainties.
  • Cross-border steel shipments were effectively halted by 50 percent U.S. tariffs, but higher frac sand, grain and coal volumes filled the gap.