GFM Network News



CP books higher Q4 grain revenue on reduced handle

Increased revenue from grain handling — albeit on a slightly lower overall grain handle — helped Canadian Pacific Railway improve its fourth-quarter and year-end gross for 2018. Calgary-based CP on Jan. 23 reported overall net income of $545 million on $2.006 billion in revenues for its fourth quarter ending Dec. 31, down from $984 million […] Read more


Grain handle down slightly in record quarter for CP

Grain carloads were marginally fewer but grain revenue per carload climbed 10 per cent to help Canadian Pacific Railway to its highest quarterly revenue ever. Calgary-based CP on Oct. 18 booked net income of $622 million on $1.898 billion in revenues — its “highest ever (revenues) for any quarter” — in its third quarter ending […] Read more

Grain handle down, costs up in CP’s Q1

Increased traffic in potash and intermodal containers offset an eight per cent drop in grain carloads in Canadian Pacific Railway’s first quarter, against higher costs and “challenging” conditions. Calgary-based CP on Wednesday booked net income of $348 million on gross revenues of $1.662 billion for the quarter ending March 31, down from $431 million on […] Read more


Two unions set to strike Saturday at CP

Unions representing engineers, conductors and signal maintainers on Canadian Pacific Railway (CP) have served formal notice to strike starting Saturday. The Teamsters Canada Rail Conference (TCRC), which represents about 3,000 CP engineers and conductors, served strike notice late Tuesday, as did System Council No. 11 of the International Brotherhood of Electrical Workers (IBEW), representing over […] Read more

CP conductors, engineers reject short-term deal

Unionized conductors and engineers at Canadian Pacific Railway (CP) have voted down a proposed one-year renewal of their collective agreement. The Teamsters Canada Rail Conference, whose train and engine (T+E) unit represents about 3,050 Canadian conductors and engineers at CP, announced Wednesday its membership had voted 67.1 per cent against the extension. Negotiators with CP […] Read more


CP to chart weekly grain handling performance online

Canadian Pacific Railway plans to launch a new weekly “supply chain scorecard” next week, to chart its own performance handling Prairie grain. The Calgary company announced the new program Friday for an online launch Wednesday (Oct. 19), noting the scorecard “will include, when necessary, detailed information on any internal or external factors affecting grain movement” as […] Read more

U.S. activist investor Ackman leaves CP board

Bill Ackman, the U.S. activist investor who usurped the leadership of Canadian Pacific Railway in 2012, is leaving the Calgary company’s board after his hedge fund sold off its remaining stake last month. Ackman, who heads New York-based Pershing Square Capital Management, joined CP’s board in 2012 and served on its finance and corporate governance […] Read more


CP, Teamsters dispute railway’s staffing obligations

Canadian Pacific Railway is refuting claims from one of its employees’ unions that the company is in “violation of the law” over layoffs of track maintenance staff. Calgary-based CP last month announced temporary layoffs effective June 30 affecting about 500 maintenance-of-way crew positions. On Tuesday it cited “business ebbs and flows associated with global markets […] Read more

CP lays off 500 workers, cites softening demand

CNS Canada — Select maintenance workers at Canadian Pacific Railway will be laid off effective Thursday as the railway’s revenue is expected to plummet in the second quarter. Lower volumes are one reason given for declining profits, though grain movement this crop year is ahead of average. Earlier this month, 500 CP maintenance workers were […] Read more