Canadian Pacific reports higher Q4 profit but falls short of analyst estimates
CALGARY - Canadian Pacific Railway (TSX:CP) reports its 2013 fourth-quarter profits and revenue were up significantly from a year earlier.
The Calgary-based company reports it had $82 million of net income, or 47 cents per share in the three months ended Dec. 31.
That was up from $15 million or eight cents per share in the fourth quarter of 2012, when the company had a number of unusual items.
Excluding certain items, Canadian Pacific's adjusted earnings were $338 million or $1.91 per share â€” a 49 per cent increase from last year.
CP earned $1.28 per share or $224 million in adjusted earnings in the fourth quarter of 2012.
Canadian Pacific also reports its fourth quarter revenue hit a record $1.607 billion, up seven per cent, but that also fell short of estimates.
Its adjusted operating ratio, which measures how much of the revenue is used to run the company, improved to a CP record of 69.9 per cent.
On average, the analysts looked for $1.67 per share of net income or $1.93 per share in adjusted earnings and $1.62 billion of revenue, according to estimates compiled by Thomson Reuters.
Read more Business News
- New Sockeye hatcheryPenticton / S. Okanagan - 2:23 pm
- Social media thwarts shoplifterPenticton / S. Okanagan - 1:59 pm
- Park ambassador suggestionsVernon / N. Okanagan - 1:56 pm
- Biz. welcomes return to schoolPenticton / S. Okanagan - 1:13 pm
|QHR Technologies Inc||1.37||+0.05|
|Anavex Life Sciences||0.223||-0.0031|
|Copper Mountain Mining||2.66||-0.02|
|Sunrise Resources Ltd||0.02||-0.005|
|Mission Ready Services||0.29||-0.01|
Last night I was privileged to be able to speak at the Greater Westside Board of Trade business awards dinner. Photo: ContributedI talked about Innovation and Collaboration which are two very interes...
There will be a time when you will need to decide who you should appoint as executor of your Will. As well, there may be a time when you will be asked by someone to act as the executor of his or her W...
Part 1 of 2 Photo: Thinkstock.com1. Move in with your parents or in-laws Explain that you're thinking strategically in moving back home. The quickest way to get into the housing market is to ma...