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Canadian Pacific quarterly revenues increase 12pc to US$5.4 billion

WITHOUT giving a straightforward statement on annual profit, as it did when releasing quarterly results, the Canadian Pacific Railway (CP) posted fourth quarter revenues of C$7

Canadian Pacific quarterly revenues increase 12pc to US$5.4 billion

WITHOUT giving a straightforward statement on annual profit, as it did when releasing quarterly results, the Canadian Pacific Railway (CP) posted fourth quarter revenues of C$7

24 January 2019 - 19:00

WITHOUT giving a straightforward statement on annual profit, as it did when releasing quarterly results, the Canadian Pacific Railway (CP) posted fourth quarter revenues of C$7.3 billion (US$5.4 billion), up 12 per cent year on year.

Instead it said: 'Diluted EPS decreased 17 per cent to C$13.61 from C$16.44, while adjusted diluted EPS rose 27 per cent to C$14.51 from C$11.39.'



When reporting quarterly profit, it said: 'Operating income rose 28 per cent to C$874 million from C$682 million [while] revenues increased 17 per cent to C$2 billion, from C$1.7 billion.'



Said CP president and CEO Keith Creel: 'The power of the CP operating model is evident in the strong performance across the company. We set records across many lines of business in 2018, including Canadian grain, potash and domestic intermodal.'



CP said it continues to 'focus on a disciplined approach to sustainable, profitable growth - a plan rooted in the foundations of precision scheduled railroading'.



Said Mr Creel: '2018 was a record by almost every measure and will be remembered as a watershed year for our company. Our record operating results are proof that CP is committed to making this company the best it has ever been.'


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