Skip to main content

Canadian Pacific reports record second quarter revenues

Published by , Assistant Editor
Dry Bulk,


Canadian Pacific Railway Ltd have announced record second quarter revenues of CAN$1.98 billion, an increase of 13% from last year, and record earnings per share (EPS) with reported diluted EPS of CAN$5.17 or CAN$4.30 on an adjusted diluted EPS basis.

"I commend the team for this record second-quarter performance," said CP President and CEO Keith Creel.

"These results demonstrate the strength of precision scheduled railroading and are a testament to our collective commitment to deliver for our customers and the broader economy."

Second quarter highlights

  • Revenues increased by 13% to CAN$1.98 billion from CAN$1.75 billion last year.
  • Reported diluted EPS of CAN$5.17, a 70% increase from CAN$3.04 last year, and adjusted diluted EPS of CAN$4.30, a 36% increase from CAN$3.16 last year.
  • Operating ratio was a second quarter record 58.4%, a 580 basis point improvement over last year's second-quarter operating ratio of 64.2%.

"This quarter, we saw revenue growth across every line of business, strong operating metrics, and our best-ever second-quarter performance from a workload perspective, as measured by Gross Ton-Miles," said Creel.

"As has been proven time and again, our operating model can perform well in all economic conditions and we will remain disciplined in controlling our costs and doing what we said we would do. Our strategy for sustainable, profitable growth is working and we look forward to a strong finish to 2019."

Read the article online at: https://www.drybulkmagazine.com/rail-barge/17072019/canadian-pacific-reports-record-second-quarter-revenues/

You might also like

 EnviroTech

Ready to revolutionise the cement industry?

Join our sister publication, World Cement, in Lisbon, 10 – 13 March 2024, for their first in-person conference and exhibition: EnviroTech.

This exclusive knowledge and networking event will bring together cement producers, industry leaders, technical experts, analysts, and other stakeholders to discuss the latest technologies, processes, and policies being deployed at the forefront of the cement industry’s efforts to reduce its environmental footprint.

Get your early bird tickets NOW »

 

EU council responds to Red Sea shipping crisis

The EU Council has launched EUNAVFOR ASPIDES. The objective of this defensive maritime security operation was to restore and safeguard the freedom of navigation in the Red Sea and the Gulf.

 
 

Embed article link: (copy the HTML code below):


 

Dry Bulk is not responsible for the content of external internet sites.