Canadian Pacific Kansas City Ltd. reported a big profit boost in its latest quarter despite U.S. tariff disruption and fears over fallout from a potential merger of rivals down the line.
The railway saw net income for the quarter ended Sept. 30 rise 10 percent year-over-year to $917 million. Revenues increased three percent to $3.66 billion on the back of higher shipping volumes.
Grain, potash and container volumes rose markedly year-over-year while forest products—struggling under a sectoral tariff imposed by U.S. President Donald Trump—and energy, chemicals and plastics sagged.
“Despite what has been consistent macro and trade policy headwinds, the team continues to generate a diverse, profitable growth across a number of areas,” chief executive Keith Creel told analysts on a conference call Wednesday….