Higher shipping volumes fuel 13% revenue jump, record earnings at Canadian Pacific

The 3 Week Diet

Canadian Pacific Railway says revenue jumped 13 per cent in the second quarter to $1.6 billion.

The company says the increase from the same period last year was due to increased shipments of grain, coal, potash, energy products and chemicals and plastics.

Net income for the three months ended June 30 rose 46 per cent to a record $480 million, or $3.27 per diluted share.

Adjusted earnings per share rose 35 per cent to $2.77 per diluted share.

Canadian Pacific says its operating ratio — a measure of efficiency that balances revenue with expenses — improved by 330 basis points to 58.7 per cent.

SOURCE: CBC.ca

Leave a Reply

Get more amazing information
in your inbox

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.