Pacific Kansas City, Canada, said financial forecasts for the year are being re-formed due to uncertainties in U.S. tariffs and trade policies.
Rail said it expects diluted revenue per share to grow between 10% and 14% this year, rather than the previously expected 12% to 18%.
Railway cars and locomotives show on CPKC railyard in Calgary on August 22, 2024. The Calgary-based company lowered its financial forecast for the coming year amid trade uncertainty, despite increased profits in Q1.
Canadian Press/Jeff McIntosh
Although the guidance dropped 17% in the latest quarter of CPKC to $909 million, compared with $774 million a year ago in the same period.
The Calgary-based company said revenues rose 8% from $3.52 billion in the previous year to $38 billion in the three months to March 31.
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83 cents per share, diluted revenue rose to 97 cents per share.
Keith Creel, chief executive of Pacific Canada, said the growing uncertainty is increasing due to tariffs, and the risk of recession has prompted companies to see more modest expectations for companies’ earnings.
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