Canadian Pacific Railway Q2 Profit Increases

(RTTNews) - Canadian Pacific Railway Limited (CP, CP.TO) reported that its net income for the second-quarter increased to C$724 million or C$5.17 per share from C$436 million or C$3.04 per share in the prior year.

Adjusted earnings per share was C$4.30, a 36 percent increase from C$3.16 last year. Revenues increased by 13 percent to C$1.98 billion from C$1.75 billion last year.

For 2019, CP expects mid-single digit revenue ton mile growth and double-digit adjusted earnings per share growth. CP expectations for adjusted earnings per share growth in 2019 are based on adjusted earnings per share of C$14.51 in 2018. The company plans to invest approximately C$1.6 billion in capital programs.