An eastbound grain train near the Great Divide - Date unknown Canadian Pacific.

25 October 2011

Canadian Pacific Announces Third-Quarter 2011 Results

Calgary Alberta - Canadian Pacific Railway Limited announced its third-quarter 2011 results today with reported net income of $186.8 million and diluted earnings per share of $1.10, inclusive of $0.04 per share of expenses related to the early redemption of its 2013 Notes.
 
THIRD-QUARTER 2011 RESULTS COMPARED WITH THIRD-QUARTER 2010
 
Total revenues were $1.3 billion, an increase of $55.4 million;
Operating expenses were $1.0 billion, an increase of $68.5 million;
Average fuel price increased 47 percent to $3.44 U.S. dollars per U.S. gallon;
Operating income was $324.6 million, a decrease of $13.1 million;
Net income was $186.8 million, a decrease of $10.5 million.
 
Diluted earnings per share were $1.10 per share, a decline of $0.07 per share or a decline of $0.03 per share exclusive of the early redemption of the 2013 Notes.
 
"We currently see strength in our bulk franchise, but remain vigilant in monitoring economic signals from Asia", stated Fred Green President and CEO.
 
"We are focused on sustaining and improving service and productivity through investments in locomotives, infrastructure, people, and technology".