Canadian Pacific Kansas City Ltd

CP: XTSE (CAN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	CAD 473.00	Djwf	Rbcbjgmt

Canadian Pacific Earnings: Intermodal Is Stabilizing and 2024 Guidance Looks Favorable

Matthew Young

Jan 31, 2024

Wide-moat Canadian Pacific Kansas City's fourth quarter pro forma revenue, combining CP and Kansas City Southern results, grew 4% year over year, slightly ahead of our expected run rate on better-than-anticipated yields (revenue per carload). Volume was mostly in line and core carload pricing remains positive.

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