Canadian Pacific Railway (NYSE: CP) reported Q1 EPS of $2.70, $0.62 better than the analyst estimate of $2.08. Revenue for the quarter came in at $1.66 billion versus the consensus estimate of $1.28 billion.

FIRST-QUARTER HIGHLIGHTS

• Volumes as measured by revenue ton-miles increased 6 percent and carloads increased 4 percent
• Revenue increased by 4 percent to $1.66 billion from $1.60 billion
• Reported diluted EPS $2.41, an 18 percent decrease from $2.93, and adjusted diluted EPS was $2.70, an 8 percent increase from $2.50 last year
• Operating ratio was 67.5 percent, an increase of 510 basis points and 190 basis points compared to last year's operating ratio and adjusted operating ratio, respectively. Effective January 1, 2018, CP adopted a new accounting standard for the presentation of pension retirement benefits which resulted in a 430 basis point increase in CP's 2017 operating ratio.(1)

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