- Q3 revenue reached CAD 4.2 billion on 6% volume growth, and core adjusted diluted EPS rose 16% year over year to CAD 1.28.
- Core adjusted operating ratio was 61.9%, 120 basis points worse than the prior-year period, as higher fuel prices pressured margins. Reported operating ratio was 64.8%.
- Train speed, dwell, locomotive productivity and fuel efficiency all improved, but personal injury frequency rose 20% to 1.12 while train accident frequency improved 60%.
- Record Q3 freight revenue and revenue ton-miles were driven by intermodal and grain, with grain revenue up 27% on 23% volume growth.
- Adjusted free cash flow rose 59% to CAD 2.4 billion year to date, and management reaffirmed mid-single-digit full-year volume growth.
- Management is targeting a sub-60 operating ratio in Q4.
Quotes
“We handled 6% more volume while continuing to improve the performance of the railroad”