Filing Flows › Canadian Pacific Kansas City (CP) › Q1 2025
Canadian Pacific Kansas City (CP) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 1, 2025
Canadian Pacific Kansas City (CP) reported revenue of $3.8B for the first quarter 2025 (Q1 2025), +8% from a year earlier and -2% from the quarter before. Operating margin was 34.7%, net earnings $909M (24.0% of revenue).
Canadian Pacific Kansas City, Q1 2025: revenue $3.8B (+8% year over year), operating margin 34.7%, net earnings $909M, operating cash flow $1.2B. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.8B | -2% | +8% |
| Operating profit | $1.3B | -16% | +15% |
| Net earnings | $909M | -24% | +17% |
| Operating cash flow | $1.2B | -32% | +14% |
| Free cash flow | $445M | -54% | -9% |
What changed
Revenue was C$3.8B in Q1 2025, up 8% year over year and down 2% from the previous quarter. Grain was the largest line at 21% of revenue. Grain added C$0.06B year over year (up 8%), 21% of the total change. Non-freight declined 27%.
Operating profit was C$1.3B, a 34.7% margin (up 2.1 points year over year). Of the extra revenue versus a year earlier, 61% reached operating profit, above the 33% margin then. Total costs grew 5% against revenue growth of 8%. Net earnings were C$0.91B, up 17% year over year. The effective tax rate was 24.3%.
Operating cash flow was C$1.2B (up 14% year over year), 127% of net earnings. Non-cash charges added back C$0.50B of depreciation and amortization and C$0.03B of share-based compensation. Working capital and other items used C$0.29B. Capital expenditures of C$0.71B left free cash flow of C$0.45B.
Questions
What was Canadian Pacific Kansas City's revenue in the first quarter 2025?
Canadian Pacific Kansas City (CP) reported revenue of $3.8B for the first quarter 2025 (Q1 2025), +8% from a year earlier and -2% from the quarter before.
Was Canadian Pacific Kansas City profitable in the first quarter 2025?
Operating profit was $1.3B (34.7% of revenue) and net earnings $909M.