Canadian Pacific Sees Q2 Earnings Below View - Quick Facts

(RTTNews) - Canadian Pacific Railway Ltd. (CP, CP.TO) provided earnings outlook for the second-quarter of 2016, citing lower-than-anticipated volumes in bulk commodities, such as grain and potash, the unexpected and devastating wildfires in northern Alberta and a strengthening Canadian dollar. The earnings outlook is below analysts' estimates.

For the second quarter, Canadian Pacific now expects revenues to decline approximately 12 percent from the year-ago period, adjusted earnings per share of about C$2.00, and an operating ratio of about 62 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of C$2.48 per share for the quarter on revenues of C$1.57 billion. Analysts' estimates typically exclude items.

However, Canadian Pacific said it remains confident in its business model and believes actions taken in the first half of the year - coupled with an anticipated improvement in commodity volumes - will provide a path for the company towards meeting its full-year guidance.

Canadian Pacific will release its second-quarter financial and operating results at 8:30 a.m. eastern time on July 20, 2016.