Key Takeaways CP's merger with Kansas City Southern created the first Canada-US-Mexico rail network.Freight gains in grain, potash, automotive and intermodal highlight resilient revenue growth.Rising expenses, heavy capex and high debt levels pose risks to margins and flexibility.Canadian Pacific Kansas City (CP) is bolstered by its robust performance and diversified freight mix. Shareholder-friendly initiatives are also encouraging. However, surging expenses have been acting as a major headwind.Factors Fav ...