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            january 20, 2019

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Indiaexportnews.com

CP bullish after 19.8pc quarterly profit hike to US$489.9 million

  22.10.2018    

The Canadian Pacific Railway has posted third quarter 19.8 per cent year-on-year profit increase of CAD641 million (US$489.9 million), drawn on revenues of CAD1.89 billion, up 18.9 per cent.
But this gain was not enough to escape a marginal profit loss of 1.05 per cent to CAD1.406 billion over the first nine months drawn on revenues of CAD5.31 billion, which increased 9.6 per cent.
Given the quarterly gains, CP announced that it was raising its 2018 full-year guidance. The company now expects adjusted diluted earnings per share for 2018 to grow more than 20 per cent.
Revenues were the highest ever for any quarter, and earnings per share were the highest in the company's history, CP said.
"This quarter really showed what our operating model and our 13,000-strong family of CP railroaders can do," said CP president and CEO Keith Creel. "Our continued success comes from a commitment to deliver on precision scheduled railroading.
"We remain disciplined in our approach and are seeing continued and sustainable growth across our lines of business in the weeks, months and years ahead," said Mr Creel.



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