By Denny Jacob


Canadian Pacific Kansas City reported better-than-expected revenue in the latest quarter.

The rail freight transportation services provider logged net income attributable to controlling shareholders of 1.02 billion Canadian dollars ($760.4 million), or 1.10 Canadian dollars, for the fourth-quarter ended Dec. 31, down from 1.27 billion Canadian dollars, or 1.36 Canadian dollars, a year earlier. Adjusted earnings were 1.18 Canadian dollars, above analysts' estimates of 1.12 Canadian dollars.

Revenue rose to 3.78 billion Canadian dollars from 2.46 billion Canadian dollars. Analysts polled by FactSet expected 3.67 billion Canadian dollars.

Canadian Pacific Kansas City forecast adjusted earnings per-share to grow by double digits in 2024 from a year earlier.

"We are confident that our unique synergy opportunities, along with improving macroeconomic conditions, can overcome a weak Canadian grain crop and position us for another strong performance this year, our first full year as a combined company," Chief Executive Keith Creel said.


Write to Denny Jacob at denny.jacob@wsj.com


(END) Dow Jones Newswires

01-30-24 1637ET