By Stuart Chirls, Senior Editor, Railway Age Magazine; January 19, 2018
Canadian Pacific Railway had its best-ever fourth quarter, with revenues up 5% to $1.71 billion and an operating ratio of 56.1 for the October-December 2017 period. The Calgary-based company said earnings per share increased 159% to $6.77, which included an income tax recovery of $527 million, primarily as a result of U.S. tax reform net of Canadian provincial tax rate increases. Adjusted diluted earnings rose 6% to a new quarterly record of $3.22.
“The fourth quarter was a record by almost every measure and should be celebrated by the men and women in the CP family who work hard every day to deliver for our customers and shareholders,” said Keith Creel, CP President and Chief Executive. “2017 was a positive year where we continued to build the foundation for sustainable long-term growth by enhancing our service offering, strengthening our team of professional railroaders, and furthering strategic partnerships with customers.”
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