The Globe and Mail reports in its Thursday, April 30, edition that Canadian Pacific Kansas City's coal segment weighed on its first quarter results even as the company benefited from record grain volumes. A Canadian Press dispatch to The Globe reports that freight revenues for CPKC's coal segment fell 12 per cent compared with the previous year, coming in at $226-million. CPKC expects coal to continue to be a headwind going forward. CPKC's net income for the first quarter was $845-million, a decrease from $909-million last year, resulting in diluted earnings per share of 94 cents, down from 97 cents. CPKC says its revenue was $3.7-billion during the quarter, down year-over-year from $3.8-billion. Freight revenues from CPKC's grain segment rose by 11 per cent, reaching $871-million. Chief executive officer Keith Kreel said: "We delivered solid volume growth across the network, led by record grain and continued momentum from our unique North American footprint. The exceptional grain volumes were supported by record harvest and our ability to efficiently connect Canada to the United States and Mexico." Meanwhile, CPKC says it sees limited opportunities amid the war in Iran.