Canadian Pacific Kansas City stock gains 1.4% as Q4 test looms

Published on 11/02/2026 at 16:28 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Canadian Pacific Kansas City stock advances after a stronger quarter. Management still expects a sub-60 operating ratio in the fourth quarter.

Growth Meets Fourth-Quarter Efficiency Test

Canadian Pacific Kansas City reported 15 percent third-quarter revenue growth, but higher fuel costs widened its operating ratio.
Management continues to target mid-single-digit revenue-ton-mile growth and low-double-digit adjusted diluted EPS growth for 2026.
The next investor focus is whether stronger traffic and productivity can offset energy costs in the final quarter.

CP, CA13646K1084, Illustration mit AI erstellt.

Canadian Pacific Kansas City stock traded at 81.44 euros on Lang & Schwarz at 16:12 CET on Monday, November 2, 2026, 1.37 percent above the 80.34-euro quote in the company's latest relevant report at 11:00 CET. The move qualifies as a material update since that report, while the railway's latest operating picture remains mixed.

Revenue Growth Meets Fuel Pressure

Canadian Pacific Kansas City reported third-quarter results on October 28. According to the CPKC earnings release, revenue rose 15 percent year over year to CAD 4.219 billion for the three months ended September 30. Revenue ton-miles increased 6 percent, while freight revenue reached CAD 4.139 billion.

Reported diluted earnings per share increased 3 percent to CAD 1.04. Core adjusted diluted EPS, a non-GAAP measure, rose 16 percent to CAD 1.28. The stronger adjusted result came as fuel expense climbed to CAD 667 million from CAD 415 million a year earlier.

Fourth-Quarter Efficiency Is Key

Higher fuel prices lifted the reported operating ratio to 64.8 percent from 63.5 percent and the core adjusted ratio to 61.9 percent from 60.7 percent. CPKC said fuel prices affected the two ratios by 170 and 190 basis points, respectively.

Management continues to expect mid-single-digit revenue-ton-mile growth and low-double-digit core adjusted diluted EPS growth for 2026. Capital spending is expected to total CAD 2.65 billion, while the company is targeting a fourth-quarter operating ratio below 60 percent, supported by October volumes, network performance and weather conditions.

The real-time quote of Canadian Pacific Kansas City stock is available on the stock snapshot page.