Canadian Pacific Kansas Metropolis Ltd. says it’s reining in its financial forecast for the yr resulting from uncertainty round U.S. tariffs and trade coverage.
The railway says it expects adjusted diluted earnings per share to extend between 10 and 14 per cent this yr, moderately than 12 to 18 per cent as beforehand predicted.
Railcars and locomotives are proven on the CPKC railyard in Calgary on Aug. 22, 2024. The Calgary-based firm has lowered its financial forecast for the approaching yr amid trade uncertainty, regardless of a Q1 revenue enhance.
THE CANADIAN PRESS/Jeff McIntosh
The downgraded steerage comes regardless of a 17 per cent enhance in web earnings to $909 million in CPKC’s newest quarter versus $774 million in the identical interval a yr earlier.
The Calgary-based firm says revenues grew eight per cent to $3.80 billion within the three months ended March 31 from $3.52 billion the yr earlier than.
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Diluted earnings rose to 97 cents per share from 83 cents per share.
Canadian Pacific CEO Keith Creel says rising uncertainty fuelled by shifting tariffs and a danger of recession prompted extra reasonable earnings expectations for the corporate.
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