---
schema_version: "secwatch.filing_event.v1"
accession: "0000016875-23-000004"
form_type: "8-K"
ticker: "CP"
cik: "0000016875"
company_name: "CANADIAN PACIFIC KANSAS CITY LTD/CN"
filed_at: "2023-01-31T23:59:59+00:00"
generated_at: "2026-06-20T05:31:05.871009+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# CP reports Q4 revenues up 21% to $2.46B, core adj EPS $1.14; awaiting STB decision on KCS combination

## Summary
- Q4 revenues $2.46B (+21% YoY); reported diluted EPS $1.36 vs $0.74; core adj EPS $1.14 vs $0.96.
- Adjusted OR 59.1% (+160 bps); reported OR 59.8% (+60 bps); FRA train accident frequency declined 15% to 0.93.
- Full-year revenues $8.81B (+10%); reported diluted EPS $3.77 (down from $4.18); core adj EPS flat at $3.77.
- Generated $2.7B free cash in 2022, up 52% YoY; lowest train accident frequency among Class 1 for 17th year.
- Awaiting STB decision on proposed combination with Kansas City Southern, expected later Q1 2023.

## SEC filing metadata
- accession: 0000016875-23-000004
- form_type: 8-K
- ticker: CP
- cik: 0000016875
- company_name: CANADIAN PACIFIC KANSAS CITY LTD/CN
- filed_at: 2023-01-31T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/16875/000001687523000004/0000016875-23-000004-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/16875/000001687523000004/cp-20230131.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000016875-23-000004
- JSON: https://secwatch.observer/filing/0000016875-23-000004.json
- Plain text: https://secwatch.observer/filing/0000016875-23-000004.txt

## Key facts
- Earnings Releases
  CANADIAN PACIFIC KANSAS CITY LTD/CN reported three months ended December 31, 2022 results: revenue $2.46 billion, EPS $1.36.
  - Period: three months ended December 31, 2022
  - Revenue: $2.46 billion
  - EPS: $1.36
  - Result: reported results
  source text: Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) today announced its fourth-quarter results, including revenues of $2.46 billion, operating ratio (“OR”) of 59.8 percent, adjusted OR 1 of 59.1 percent, diluted earnings per share (“EPS”) of $1.36 and core adjusted diluted EPS 1 of $1.14.
  evidence_url: https://www.sec.gov/Archives/edgar/data/16875/000001687523000004/0000016875-23-000004-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.