Drought and a harsh winter deliver one-two punch to CP Rail revenue

Canadian Pacific Railway Ltd. saw revenue and profits dip in its first quarter as a weak grain harvest, a harsh winter and a work stoppage took their toll. CEO Keith Creel says last year's drought devastated grain volumes, while frigid weather early in 2022 and a two-day strike in March brought down revenue by six per cent and earnings by two per cent year over year. Revenue from grain shipments - typically the railroad operator's biggest money maker - tumbled 20 per cent, putting it below inter