Despite a challenging environment, Canadian Pacific Kansas City (CPKC) recorded a 4% growth in cargo volume and a 13% increase in revenue during the second quarter of 2026 (2Q26) compared to the same period in 2025.
“During the quarter, we set volume records in grains, energy, chemicals, plastics, and automotive. We also made progress on several important business initiatives that reinforce our long-term growth story,” said Keith Creel, president and CEO of CPKC.
He noted that the launch of Southeast Mexico Express, the continued growth of the Mexico Midwest Express service, the opening of another Americold facility from the port of Saint John in Canada, and the continued increase in traffic flow between Canada and Mexico have a positive impact on the railroad.
According to its second quarterly report, the railway company’s revenues totaled four billion 2 billion dollars (USD) , compared to three billion 7 billion dollars in the second quarter of 2025 (2Q25).
During the cycle, CPKC recorded record grain handling revenue, with a 24% increase in income compared to a 19% volume growth. Canadian grain volumes rose 24%, driven by a record harvest and continued growth in markets such as Mexico.
Meanwhile, exports from the United States increased by 14%, also driven by strong demand for Mexico and Pacific Northwest markets.
Meanwhile, in the automotive segment, revenues increased by 19% with an 8% volume growth , representing another record quarter.
“Growth was driven by the acquisition of new businesses and the extension of journey lengths, as the sector continues to be a compelling example of the value of our three-country network,” the company emphasized.
For intermodal, revenue increased by 11% with stable volumes . Domestic intermodal saw a 3% increase in the quarter. “We are encouraged by the initial success of our SMX service with CSX, with volumes increasing by more than 30% since the first quarter,” he said.
“We are seeing signs of improvement in truck-to-rail conversion opportunities, supported by higher fuel prices, stricter enforcement of regulations, and reduced trucking capacity. Both our MMX and SMX services are well-positioned to capitalize on these favorable market dynamics,” said John Brooks, EVP & Chief Marketing Officer of CPKC.
Meanwhile, potash revenues rose 10% year-on-year against a 2% drop in volume, reflecting the impact of port maintenance and lower mining production.
Revenue from forest products increased by 2% despite a 2% decrease in volume, while the metals, minerals and consumer products segment advanced 16% annually with a 7% growth in volume.
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