CP Notches Best Quarter, June for Grain Transportation
Canadian Pacific (CP) recorded its best-ever quarter and June for moving Canadian grain and grain products.
Canadian Pacific
CP Donates $1MM Toward “Positive Change”
In response to ongoing social unrest and social injustice across the United States, Canadian Pacific (CP) is donating $1 million to three organizations to support the people of Minneapolis, home to the headquarters of CP’s U.S. operations, as well as support meaningful positive change nationally.
CP Completes Acquisition of CMQ
Canadian Pacific (CP) has completed its previously announced acquisition of the Central Maine & Quebec Railway US Inc. (CMQ US).
Brake Defects Plague Canada’s Aging Grain Cars
Hard-to-detect braking system defects have rendered Canada’s aging fleet of grain hoppers a safety hazard, says a former director of derailment investigations for the country’s Transportation Safety Board (TSB), the Canadian equivalent of the U.S. NTSB. Ian Naish, who retired from the TSB in 2009, in a CBC interview posted May 15, declared, “The grain car fleet overall is quite defective.”
CP Hauled Record Grain in April 2020
Canadian Pacific (CP) reported a record-setting month in the movement of Canadian grain and grain products. In April, CP moved a best-ever monthly total of 2.8 million metric tonnes (MMT) to market, bettering the previous record set in November 2019 by more than 100,000 metric tonnes (MT).
CP Donates $1MM to COVID-19 Relief
Canadian Pacific (CP) is donating $1 million to four North American charities working on the front lines to help people impacted by COVID-19. In Canada, CP will donate C$350,000 to The Frontline Fund and C$250,000 to Food Banks Canada. In the U.S., CP will donate US$250,000 to Feeding America and up to US$150,000 in matching funds to the American Red Cross.
Canadian Pacific Positioning For Growth: Rail Group On Air Podcast Series
Canadian Pacific President and CEO Keith Creel, Executive Vice President Operations Mark Redd and Executive Vice President Marketing John Brooks talk with Railway Age Editor-in-Chief William C. Vantuono about business growth, capital
These Are Extraordinary Times
To critical healthcare workers, front line service providers, emergency agencies and personnel: Thank you for your ongoing dedication, determination and sacrifice in response to COVID-19. These are extraordinary times, and your heroic efforts are inspiring. I also want to thank those critical service providers working behind the scenes to ensure we have what we need every day. From railroaders and truckers to farmers and port workers and everyone in between, the supply chain is still working 24/7 to deliver for North Americans.
CP 1Q2020: Revenue, OR Records; Capex Maintained; No Dividend Increase; No Share Buybacks
Canadian Pacific Railway set records for operating ratio and revenues in the first quarter of 2020, and will continue to invest capital in anticipation of an economic recovery, rather than increase its shareholder dividend and buy back shares—a strategy at least one Wall Street analyst is calling “noteworthy, prudent and logical.” For the remainder of the year, the railroad expects volume to decrease somewhat, with adjusted diluted earnings per share flat.
CP Tooting Its Own Horns—For Others
Most of us are aware of the heroic and dedicated work performed around the clock by health care workers and first responders in the daily battle against the coronavirus, which has had its grip on our planet for the past several months. Moreover, many have likely seen various tributes to these front-line workers in the form of neighborhoods around the world singing, playing music, banging pots and pans, and making noise to honor these professionals. The FDNY has even assembled fire trucks at various hospitals and medical centers with emergency lights flashing and sirens blaring.