Canadian Pacific Railway Q2 Profit Increases - Quick Facts

(RTTNews) - Canada's second-largest railroad operator Canadian Pacific Railway Ltd. (CP, CP.TO) reported that its net income for the second quarter increased to C$371 million or C$2.11 per share, from C$252 million or C$1.43 per share, in the second quarter of 2013. Analysts polled by Thomson Reuters expected the company to report earnings of C$2.10 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues grew to C$1.681 billion from C$1.497 billion in the same quarter last year. Wall Street expected revenues of C$1.65 billion.

"The team has made great strides in my two years at CP and they continue to demonstrate resiliency by delivering these results despite continued operational challenges in the US Midwest after a devastating winter. The future is very promising for the railroad as we transition towards leveraging our lower cost structure and improved service," said E. Hunter Harrison, CP's Chief Executive Officer.