This study utilized fifty bull calves of the Continental × British crossbreed, with an average body weight of 147.0 ± 1.67 kg (BW), in a completely randomized design. The objective was to examine the impact of varying levels and duration of calcium propionate (CaPr) supplementation on the growth performance, body fat reserves, serum metabolites, and hemogram of high-risk newly received stocker calves. These calves were individually housed and fed a received diet for 56 d. The calves received the following treatments: (1) no CaPr (CTL), (2) 20 g CaPr/calf/d, (3) 40 g CaPr/calf/d, (4) 60 g CaPr/calf/d, and (5) 80 g CaPr/calf/d at 14, 28, 42, and 56 d after their arrival. Supplementing with 20 g CaPr from 28 to 56 d after arrival increased average daily gain (ADG) and BW (p < 0.05), and DMI was not affected (p > 0.05). This was reflected at 28 d with increases (p < 0.05) in the ADG/DMI ratio and longissimus muscle area (LMA), and at 56 d in back fat thickness (BFT) and fat thickness at the rump (FTR). Also, with 20 g, blood urea nitrogen decreased (p < 0.05), and increases were observed in the activity of gamma glutamyltransferase, monocytes (quadratic trend, p < 0.07), and granulocytes % (quadratic effect, p < 0.03). However, as the level of CaPr increased during the first 14 d after arrival, daily water intake, creatinine, total cholesterol, mean corpuscular hemoglobin concentration (linear effect, p < 0.05), globulin, calcium, and mean corpuscular volume (linear trend, p = 0.08) increased, while alkaline phosphatase (linear trend, p = 0.07) and lymphocytes (linear effect, p = 0.05) decreased. Finally, the different levels of CaPr supplementation did not produce any significant effects or differences (p > 0.05) in the remaining serum metabolites and hemogram (p > 0.05). Ultimately, the inclusion of 20 g CaPr/calf/d in the diet for 28 d in newly received stocker calves increased ADG, ADG/DMI ratio, and LMA. If extended to 42 or 56 d, the increases in ADG persisted, but there was also a rise in body fat reserves (BFT and FTR) at the expense of a reduction in the ADG/DMI ratio. Furthermore, the different supplementation levels did not impact the reference range for most serum metabolites or the health of stocker calves.