Canadian Pacific: 2Q Earnings Snapshot
CALGARY, Alberta (AP) _ Canadian Pacific Railway Ltd. (CP) on Tuesday reported second-quarter net income of $541.3 million.
The Calgary, Alberta-based company said it had net income of $3.86 per share. Earnings, adjusted for pretax gains and non-recurring gains, came to $3.21 per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $3.19 per share.
The railroad posted revenue of $1.48 billion in the period, which fell short of Street forecasts. Seven analysts surveyed by Zacks expected $1.5 billion.
Canadian Pacific shares have risen 33% since the beginning of the year. The stock has risen 26% in the last 12 months.