Canadian Pacific Kansas City Shares Down on Adjusted. Earnings, Revenue Misses
By Adriano Marchese
Shares in Canadian Pacific Kansas City were down Wednesday morning after the Canadian railroad missed targets for revenue and adjusted earnings in the first quarter.
In early trading, shares were down 3.6% at 115.54 Canadian dollars ($84.57).
CPKC reported core adjusted earnings were C$0.93 a share, just shy of analyst expectations of C$0.94 a share, according to FactSet.
While revenue rose to C$3.52 billion from C$2.27 billion, analysts were expecting a rise to C$3.54 billion in the quarter.
Net income came in at C$774 million, or C$0.83 a share, down from C$800 million, or C$0.86 a share, in the comparable quarter a year ago.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
April 24, 2024 10:21 ET (14:21 GMT)
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