Strong Financial Performance: CPKC reported Q2 earnings of $1.12 per share, a 7% increase YOY, with revenues rising by 3% to $3.7 billion. Notably, operating ratio improved by 110 basis points to 60.7%, indicating operational efficiency.

Volume Growth and Market Insights: The company experienced a 7% increase in volume, driven by significant growth in domestic intermodal service (up 40%) and international intermodal (up 28%). Despite macroeconomic uncertainties and trade policy challenges, the outlook for the second half of 2025 remains positive, with expectations of maintaining mid-single-digit volume growth.

Regulatory Risks and Industry Changes: The proposed merger between UP and NS introduces potential regulatory risks that could lead to a duopoly in the industry. CPKC is committed to actively participating in the regulatory process to ensure fair competition standards are met, particularly regarding the public interest and its impacts on existing players.