CPNYSERailroads, Line-Haul Operating

Canadian Pacific Kansas City Ltd (CP) earnings date, market-implied expected move, and options open interest by expiry

89.69

pre 89.69 +1.49%

Pre-market16:00 ETdelayed

Open89.23Volume3.6MMkt cap$78.0BP/E28.56EPS3.14Div yield0.79%

Day89.23 – 90.1550%52-wk67.83 – 96.6976%

Canadian Pacific Kansas City Ltd

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

No implied move.

Expected move

Inputs

Next report

Jan 27

after close · in 86 days

est.Q4 FY26

Calendar

Next report

Last report

−1.19%

vs ±4.4% implied · ×0.27

shaded = implied · ▲▼ = realized

Oct 28 '26 · confirmed

Implied vs realized

Linked news

5dSPGI · supplierS&P Global Q3 net income $1,240 million, revenue $3,678 million, diluted EPS $4.25
43dMCO · supplierMoody’s Just Delivered Its Best Quarter in Years. Is Its Stock Still Undervalued?

News

Largest filed tie

13F top-10 QoQ

+5.44%

shares held · 10 largest managers

13F · Jun 30 '26125d lag

984 managers

Top fund weight

2.60%

CP weight · EWC

N-PORTAug 31 '26

2 funds

Last reportshaded = implied▲▼ = realized× = |realized| ÷ implied

Canadian Pacific Kansas City (CP) is expected to report on Jan 27 after close (estimated date).

Implied vs realized

2 reports

—≥ implied

Q2 FY26Jul 29 '26confirmed—▼−3.43%—

Q3 FY26Oct 28 '26confirmed±4.4%▼−1.19%×0.27

quarterimplied−5%0+5%realized×

Q3 FY26±4.4%▼−1.19%×0.27

Q2 FY26—▼−3.43%

Shaded = implied · tick ▲▼ = realized · × = |realized| ÷ impliedSource: options EOD · implied at prior close · realized close to close

Implied vs realized

Positioning

OI · 4 expiries · Oct 30 close

0.66OI · 4 expiries · Oct 30 closeP/C open interest · Mar 19 · first expiry after the report

PUTS · chgexpiry · days · P/CCALLS · chgP/C

3,643+280%Nov 2018d0.725,083+1%0.72

1,632+1%Dec 1846d0.483,4030%0.48

3,5380%Jan 1574d0.586,0610%0.58

report · Jan 27 · after close · est.

8060%Mar 19137d1,226+25%

ExpiryPutsCallsP/C

Nov 2018d3,643+280%5,083+1%0.72

Dec 1846d1,632+1%3,4030%0.48

Jan 1574d3,5380%6,0610%0.58

report · Jan 27 · after close · est.

Hatched = puts · solid = calls · bars scaled per expiry · chg = OI vs prior sessionSource: options EOD

Positioning

Linked exposure

No implied move.

Linked exposure

Revenue flow

as filedQ3 FY26

21.71%as filednet margin · revenue +1.29% QoQ · +12.95% YoY

Revenue

$3.0B+1.29% QoQ

Gross profit

$2.0B+0.60% QoQ

67.34% margin

Operating income

$1.0B+0.98% QoQ

35.25% margin

Pre-tax income

$960M+0.33% QoQ

Net income

$645M−10.58% QoQ

21.71% margin

Cost of revenue

$970M+2.72% QoQ

Operating expenses

$953M+0.19% QoQ

Other operating $581M

Depreciation $372M

Other expense

$87M

Tax

$315M+33.68% QoQ

Revenue$3.0B+1.29%

Gross profit

$2.0B+0.60%

67.34% margin

Operating income

$1.0B+0.98%

35.25% margin

Pre-tax income

$960M+0.33%

Net income

$645M−10.58%

21.71% margin

Cost of revenue

$970M+2.72%

Operating expenses

$953M+0.19%

Other operating $581M

Depreciation $372M

Other expense

$87M

Tax$315M+33.68%

flow · deduction · signed % = QoQSource: SEC filings · standardized · QE Sep 30 '26 · width = $

Revenue flow

Intraday

15m bars

Hatch = extended hours · ▯ up · ▮ downSource: market data · 16:00 ET

Intraday

Event sensitivity

NFP ×1.21· ±1.3% vs ±1.1% · 10 releases

eventrelease day|move|up · n×base

NFPjobs report±1.3%7 of 10×1.21

PCEpersonal income & outlays±1.3%9 of 20×1.15

FOMCrate decision±1.2%8 of 24×1.13

GDPgross domestic product±1.2%11 of 20×1.09

PPIproducer prices±1.0%5 of 11×0.95

CPROFcorporate profits±1.0%6 of 12×0.91

CPIconsumer prices±0.7%6 of 11×0.64

Bar = avg |move| to ±2% · tick = ±1.1% avg day · ×base = |move| ÷ ±1.1% · min 6 releases

Earnings history

EPS 0.73 · consensus —

Quarter	Reported	EPS	Consensus
Q3 FY26	Oct 28 '26 · confirmed	0.73	—
Q2 FY26	Jul 29 '26 · confirmed	0.81	—
Q1 FY26	—	0.67	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod