27 October 2010

Canadian Pacific Announces
Third-Quarter Results

Calgary Alberta - Canadian Pacific Railway Limited announced a 15 percent increase in third-quarter revenues with gains across most lines of business.
 
Reported net income was $197.3 million and diluted earnings per share were $1.17, both down 6 percent over third-quarter 2009 which included other specified items of $0.41 per share principally from significant real estate sales.
 
Adjusted diluted earnings per share increased 27 percent to $1.21.
 
"CP delivered another strong quarter of financial performance on double digit revenue growth and an improved operating ratio," said Fred Green, President and Chief Executive Officer.
 
"We are building a solid foundation based on safety, service reliability, and operational efficiencies that continue to drive value to our employees, customers, and shareholders."
 
THIRD-QUARTER 2010 COMPARED WITH THIRD-QUARTER 2009
 
Total revenues increased 15 percent from $1.1 billion to $1.3 billion
Adjusted operating income increased 28 percent from $263.8 million to $337.7 million
Adjusted operating ratio improved 270 basis points to 73.7 percent
Adjusted earnings increased 27 percent from $160.9 million to $204.7 million
Adjusted diluted earnings per share increased 27 percent from $0.95 per share to $1.21 per share