Canadian Pacific Railway (NYSE: CP) reported Q3 EPS of $2.90, $0.61 better than the analyst estimate of $2.29. Revenue for the quarter came in at $1.55 billion versus the consensus estimate of $1.28 billion.

CP is revising its 2017 guidance upwards, and now expects adjusted diluted EPS to grow in the double-digits from full-year 2016 adjusted diluted EPS of $10.29.

THIRD-QUARTER HIGHLIGHTS

• Revenue grew 3 percent to $1.6 billion from $1.55 billion
• Diluted earnings per share rose 50 percent to $3.50 from $2.34 and adjusted diluted earnings per share advanced 6 percent to $2.90 from $2.73
• The operating ratio of 56.7 percent improved by 100 basis points from 57.7 percent
• Operating income increased 5 percent to $690 million from $657 million
• Cash from operations for the first nine months rose to $1.45 billion from $1.32 billion a year earlier, supporting a gain in free cash flow to $575 million from $488 million in the same period.

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