CP news

[buzz456]

http://www.wsj.com/articles/canadian-pa ... 15?tesla=y

[DrewG]

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Seems like it's good times for railroads though.

[BoostedFridge]

http://www.railwayage.com/index.php/fin ... ratio.html

Not as good of an article as the Wall Street Journal one, but has the same facts.

[buzz456]

"To read full story subscribe or log in."
Seems like it's good times for railroads though.

Sorry, I have a subscription. I forgot you couldn't see the whole article.
Canadian Pacific Railway Ltd. Thursday reported higher revenue and earnings for the fourth quarter and a record operating ratio that beat analyst expectations.

The Calgary, Alberta-based railroad said it exceeded its operational and financial goals for the year and is now two years ahead of schedule on targets it had set for 2016.

CP posted a fourth-quarter profit of 451 million Canadian dollars ($365 million), or C$2.63 a share, well ahead of year-earlier results which were hurt by a big asset-impairment charge.

Adjusted to exclude items, CP earned C$2.68 a share, up from C$1.91 a year earlier and exceeding the C$2.56 a share analysts polled by Thomson Reuters were expecting.

Revenue rose 10% to a record C$1.76 billion, also beating the C$1.61 billion analyst estimate.
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The railway’s operating ratio, or the percentage of revenue consumed by operating costs, declined to 59.8% in the quarter from 65.9% a year earlier on an adjusted basis. Analysts were looking for just over 60%. For the year, CP’s operating ratio declined to a record 64.7%, it said.

“I am proud of the team at CP, which continues to build momentum as we exited the year with double-digit revenue growth and a sub-60 operating ratio, proving again our ability to control costs while growing the top line,” E. Hunter Harrison, CP’s chief executive, said in a statement.

The railway posted a 9% improvement in freight revenue in the latest quarter, including a 20% gain in revenue from crude-oil shipments, a 27% increase in U.S. grain-shipment revenue and a 2% improvement from Canadian grain.

“CP fully recognizes the impact of short-term volatility in commodity prices, but given the diversity of its business and proven ability to control costs, we’re confident in our ability to execute on our plan going forward,” Mr. Harrison said.

For 2015, CP is guiding for an operating ratio of below 62%, revenue growth of 7% to 8% and an increase of more than 25% in adjusted per-share earnings from C$8.50 in 2014.