Calgary Alberta - Canadian Pacific Railway Limited today announced record Q3 2014 financial results.
 
Net income in the third quarter rose to a record $400 million, or $2.31 per diluted share, from $324 million, or $1.84 per share, in the third quarter of 2013.
 
This represents an increase of 26 percent in earnings per share year-over-year.
 
THIRD-QUARTER 2014 RESULTS COMPARED WITH THIRD-QUARTER 2013:
 
Revenue rose 9 percent to a record $1.670 billion.
 
Operating expenses rose 4 percent to $1.049 billion.
 
Operating Ratio fell to a record low 62.8 percent, an improvement of 310 basis points.
 
Operating income rose 19 percent to $621 million, the highest ever.
 
"The CP team delivered another quarter of impressive results," said E. Hunter Harrison, CP's Chief Executive Officer.
 
"Going forward, we will continue to execute on our plan of delivering safe, superior, service to our customers, focusing on further efficiency and capacity initiatives and building on our solid foundation for growth."
 
"Despite recent volatility in commodity prices, we are confident in the strength of the franchise and are on track to finish the year with CP's strongest quarter to date," Harrison said.

Anonymous Author.