Canadian Pacific Kansas City Profit Falls, Chair Retires

Dow Jones07-30

Canadian Pacific Kansas City reported lower second-quarter profit and said that its board chair Isabelle Courville was retiring.

The railroad operator reported net income of 1.02 billion Canadian dollars, or US$728.9 million, down from C$1.23 billion, the year prior. On a per-share basis, profit fell to C$1.15 a share from C$1.33 a share.

Adjusted earnings were C$1.27 a share. Analysts polled by FactSet expected C$1.24 a share.

Revenue rose 13% to C$4.16 billion from C$3.7 billion. Wall Street expected C$4.11 billion.

The company said it was set up to accelerate volume and earnings growth in the second half of the year.

Courville joined the board in 2013 and had served as chair since 2019. The company named Gordon Trafton, board member since 2017, as Courville's replacement.

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