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Canadian Pacific (CP) Beats on Q2 Earnings

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Canadian Pacific Railway Limited (CP - Free Report) serves the principal business centers of Canada from Montreal to Vancouver, as well as the U.S. Northeast and Midwest regions. The company has extended its network reach by establishing alliances and agreements with other Class I railways in North America, which allows it to provide services and access markets across North America beyond its own rail network. Freight transport forms the main source of revenue for the company.

Canadian Pacific Railway is set to gain from strong the Industrial and Automotive segments. However, soft coal demand coupled with declining oil prices may impact profitability in the upcoming quarters.

Currently, Canadian Pacific Railway has a Zacks Rank #3 (Hold). We have highlighted some of the key stats from this just-revealed announcement below:

Earnings: Canadian Pacific Railway’s second quarter earnings (on an adjusted basis) of  approximately $1.59 per share (C$2.05 per share) beat the Zacks Consensus Estimate by $0.03.

Revenue: Canadian Pacific Railway reported revenues of $1,125 million which missed the Zacks Consensus Estimate of $1,136 million.

Key Stats: Canadian Pacific Railway reported operating ratio of 62% in the reported quarter, reflecting an improvement of 110 basis points. The company’s net income (on an adjusted basis) declined 23% to $312 million in the quarter.

CDN PAC RLWY Price and EPS Surprise

CDN PAC RLWY Price and EPS Surprise | CDN PAC RLWY Quote

Check back later for our full write up on this Canadian Pacific Railway earnings report later!

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