Canadian Pacific Kansas City (CP) is benefiting from strong grain export demand and continued operational efficiency, as evidenced by its record-setting grain volumes in June 2026. The company transported 2.8 million metric tons (MMT) of Canadian grain and grain products during June 2026, surpassing the previous June record established in June 2020. The company also established new second-quarter records for both grain tonnage and carloads (April through June), exceeding the prior highs recorded in 2020.
This achievement highlights the railroad's ability to support elevated agricultural shipments while maintaining network fluidity.
The record performance builds on a strong trend throughout the 2025-2026 crop year. CP has already set grain transportation records in the first quarter and established monthly records in five of the first five months of 2026. Monthly records earlier this year have been set in January, February, April and May. Through Week 48 of the crop year, the company moved more than 28.4 million metric tons of Canadian grain and grain products, marking its strongest grain-handling performance since the record-setting 2020-2021 crop year.
The company's U.S. grain business also reached new highs. In June, CP moved a record 2.5 MMT of grain, surpassing the previous monthly record set in 2022. Second-quarter U.S. grain shipments totaled a record 7.5 MMT, exceeding the prior quarterly high achieved in the second quarter of 2022.
The sustained growth underscores favorable grain production and resilient export demand across global markets. It also demonstrates the effectiveness of CP’s rail network and reinforces its role as a key transportation partner for Canada's agricultural sector. Strong grain volumes also provide a supportive backdrop for revenue generation and asset utilization.
CP’s Zacks Rank and Price Performance
CP currently carries a Zacks Rank #3 (Hold).
The company’s shares have gained 9.3% over the past three months compared with Transportation - Rail’s 11.7% rise.
CP Stock’s Three-Month Price Comparison
Stocks to Consider
Investors interested in the Zacks Transportation sector may consider Expeditors International of Washington, Inc. EXPD and Teekay Tankers Ltd TNK.
EXPD currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Expeditors has an expected earnings growth rate of 11.9% for 2026. The company has an encouraging earnings surprise history. Its earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average beat of 13.96%.
Teekay Tankers Ltd currently sports a Zacks Rank #1.
TNK has an expected earnings growth rate of 98% for the current year. The company has an encouraging earnings surprise history. Its earnings topped the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average beat of 10.2%.
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Canadian Pacific Kansas City Limited (CP): Free Stock Analysis Report
Expeditors International of Washington, Inc. (EXPD): Free Stock Analysis Report
Teekay Tankers Ltd. (TNK): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).