Railways set to rebound from port strike

Article Excerpt

These two railways recently re-routed some of their traffic due to the B.C. port workers strike. The strike has now ended, which should let them recover those added costs over the next few months. CANADIAN PACIFIC KANSAS CITY LTD. $106 is your #1 Conservative Buy for 2023. The company (Toronto symbol CP; Conservative Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 931.5 million; Market cap: $98.7 billion; Price-to-sales ratio: 9.6; Dividend yield: 0.7%; TSINetwork Rating: Above Average; www.cpkcr.com) took its current form on April 14, 2023, when Canadian Pacific Ltd. completed its acquisition of U.S.-based railway Kansas City Southern. CPKC’s revenue in the quarter ended June 30, 2023, rose 44.1%, to $3.17 billion from $2.20 billion a year earlier. On a comparable basis, revenue in the quarter gained 1.6%, to $3.34 billion from $3.29 billion. The company estimates the B.C. strike cut its second quarter revenue by $80 million. If you exclude unusual items, earnings in the quarter fell 12.6%, to $0.83 a share (or a..