Newly merged railroad Canadian Pacific Kansas City (CP) has reported net income for this year’s first quarter of $800 million, up 36% from $590 million a year earlier.
The Calgary-based company announced earnings per share of $0.86, up from $0.63 a year ago.
Revenues in Q1 totaled $2.27 billion, up 23% from $1.84 billion in the first three months of 2021.
This is the first earnings report since Canadian Pacific Railway merged with Kansas City Southern on April 14 of this year in a $31 billion U.S. deal.
The railroad company said its volumes rose 11% in Q1 compared with a year earlier.
Canadian Pacific Kansas City’s stock has gained 13% in the last 12 months to trade at $105.71 per share.
