Canadian Pacific Railway Q1 Profit Rises

(RTTNews) - Canadian Pacific Railway Limited (CP.TO) Wednesday reported first-quarter net income of C$602 million or C$4.50 per share, up from C$409 million or C$2.98 per share last year.

Excluding items, Canadian Pacific Railway reported adjusted earnings of C$4.48 per share, up from C$4.42 per share last year.

The company's revenue for the quarter slipped to C$1.96 billion from C$2.04 billion last year.

Analysts polled by Thomson Reuters expected earnings of $3.47 per share on revenues of $1.59 billion. Analysts' estimates typically exclude special items.

Looking forward, the company expects double-digit adjusted earnings growth compared to 2020's adjusted earnings of $17.67 per share. Analysts currently estimate earnings of $16.13 per share.