Canadian Pacific Railway Q3 Profit Down

(RTTNews) - Canadian Pacific Railway Limited (TCP, CP.TO) reported that its third-quarter net income declined to C$598 million or C$4.41 per share from C$618 million or C$4.46 per share in the prior year.

Adjusted earnings per share were C$4.12, an 11 percent decrease from C$4.61 last year.

Revenues for the quarter decreased by 6 percent to C$1.86 billion from C$1.98 billion in the prior year.

CP expects a low-single-digit decline in revenue ton-miles in 2020 and at least mid-single-digit adjusted earnings per share growth. CP continues to expect capital expenditures of C$1.6 billion in 2020.