Canadian Pacific: 3Q Earnings Snapshot
CALGARY, Alberta (AP) _ Canadian Pacific Railway Ltd. (CP) on Wednesday reported third-quarter profit of $467 million.
On a per-share basis, the Calgary, Alberta-based company said it had profit of $3.37. Earnings, adjusted for non-recurring costs, came to $3.48 per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $3.41 per share.
The railroad posted revenue of $1.5 billion in the period, which matched Street forecasts.
Canadian Pacific shares have risen 24% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $219.55, a rise of 11% in the last 12 months.