Canadian Pacific Railway (CP) Tops Q4 EPS by CAD$0.23

Canadian Pacific Railway (NYSE: CP) reported Q4 EPS of CAD$2.61, CAD$0.23 better than the analyst estimate of CAD$2.38. Revenue for the quarter came in at CAD$1.64 billion versus the consensus estimate of CAD$1.26 billion.

"While the fourth quarter was weighed down by challenging operating conditions, including unexpected and extreme weather on the West Coast that compounded the impact of an already delayed grain harvest, it once again highlighted our resiliency and ability to operate efficiently under tough conditions," said E. Hunter Harrison, CP's Chief Executive Officer. "I am particularly proud of our people who worked tirelessly over the last three months of 2016 to deliver for our customers in a safe and efficient manner."

"2016 featured stiff economic headwinds and a challenging volume environment, headlined by a precipitous decline in crude oil shipments and weakness in grain movements, particularly in the first half," Harrison said. "These are not excuses, but opportunities to showcase our operating ability and leadership. As we have shown over the last four years, the precision railroading model works in all economic conditions."

In 2017, CP will continue to find opportunities to enhance the productivity, fluidity and safety of its operations.

"With continued margin improvement and an anticipated increase in volumes, led by a stronger bulk outlook, we expect adjusted diluted EPS growth to be in the high single-digits," said Keith Creel, CP's President and Chief Operating Officer. "With our strong leadership team, plus the commitment and discipline shown by the thousands of men and women every day at CP, the franchise is well positioned for 2017 and beyond."

For earnings history and earnings-related data on Canadian Pacific Railway (CP) click here.

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