Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) today announced its third-quarter 2012 results with reported net income of $224 million, an increase of $37 million, or 20 per cent and diluted earnings per share of $1.30, an increase of $0.20, or 18 per cent, when compared to third-quarter 2011.
For the nine months of 2012 Canadian Pacific’s net income was $469 million, an increase of $120 million, or 34 per cent and diluted earnings per share of $2.72, an increase of $0.68, or 33 per cent, when compared to the same period last year.
E. Hunter Harrison, President and Chief Executive Officer said, “Momentum is building at Canadian Pacific. We have implemented new services; closed terminals and certain yard operations; and we’ve put a new leadership team in place. The team has made significant progress on operational improvements, controlling costs and on delivering results. And this is just the beginning.”
THIRD-QUARTER 2012 RESULTS COMPARED WITH THIRD-QUARTER 2011
- Total revenues were $1.5 billion, an increase of $110 million or 8 per cent
- Operating expenses were $1.1 billion, an increase of $58 million or 6 per cent
- Operating income was $376 million, an increase of $52 million or 16 per cent
- Operating ratio was 74.1 per cent, an improvement of 170 basis points
Conference Call Information
CP will discuss its results with analysts in a conference call beginning at 11:00 a.m. Eastern time (9:00 a.m. Mountain time) on October 24, 2012.
Conference call access
Toronto participants dial in number: (647) 427-7452
Operator assisted toll free dial in number: 1-888-231-8193
Callers should dial in 10 minutes prior to the call
For those with Internet access we encourage you to listen via CP’s website at www.cpr.ca. To access the webcast and the presentation material, click on “Invest In CP” tab.
A replay of the conference call will be available by phone through November 21, 2012 at 416-849-0833 or toll free 1-855-859-2056, password 35137957. A webcast of the presentation and an audio file will be available at www.cpr.ca under “Invest In CP” tab.
About Canadian Pacific
Canadian Pacific (CP: TSX)(NYSE: CP) operates a North American transcontinental railway providing freight transportation services, logistics solutions and supply chain expertise. Incorporating best-in-class technology and environmental practices, CP is re-defining itself as a modern 21st century transportation company built on safety, service reliability and operational efficiency. Visit www.cpr.ca to learn more.
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