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.

Creel to Trudeau: “The Time For Rhetoric Has Passed”

Canada’s railroads, and by extension the Canadian economy, are suffering from the blockades that First Nations peoples have been imposing since early February in protest of planned natural gas pipelines. The effect on the Canadian economy runs in the hundreds of millions of dollars per day, according to calculations by railroad economist and Railway Age Contributing Editor Jim Blaze (see below). Canadian Pacific President and CEO Keith Creel has called upon Prime Minister Justin Trudeau to honor First Nations leadership’s request to engage in a dialogue.

Alberta Dumps CBR Leases; CN Dealing With Blockades

Within the space of a week, CBR (crude by rail), as well a pipeline-transported oil, has mushroomed into one of Canada’s most pressing problems.

UPDATED: Transport Canada Slow-Orders Crude Oil Trains; CN Embargoes Traffic

Following a second unexplained derailment and rupture-caused explosive fire of a crude oil train in rural Guernsey, Sask., Transport Canada ordered Feb. 6 a 25-mph limit on the speed of oil trains, dropping in metropolitan areas to 20 mph. The Federal Railroad Administration is monitoring Canada’s investigation to determine whether additional regulatory measures should apply once those oil trains cross the border on their way to U.S. refineries. As well, CN has embargoes, for 30 days, permits for certain TIH (toxic inhalation hazard) trains, citing the slow order’s impact on its network.

CP: “Disciplined Approach to Sustainable, Profitable Growth”

Canadian Pacific (CP) announced its 4Q19 results—including record revenues of C$2.07 billion, an operating ratio of 57%, improved diluted earnings per share of C$4.82 and a record adjusted diluted EPS of C$4.77—as well as its full-year 2019 figures, which were highlighted by a 7% revenue increase to a record C$7.79 billion.

Canadian Grain Groups Want Rail Option Assurances

Canadian grain groups are taking a fresh look at pressing government officials to enact legislation that would address how the country can continue shipping grain and grain products in the event of a strike or other work stoppage, FreightWaves reports.