Nadeem Velani named CP's Chief Financial Officer

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Go back to Nadeem Velani named CP's Chief Financial Officer

Canadian Pacific Railway (CP) Posts Q3 EPS of C$2.73; Names Permanent CFO

October 19, 2016 8:33 AM EDT

Canadian Pacific Railway (NYSE: CP) reported Q3 EPS of CDN$2.73, CDN$0.56 better than the analyst estimate of CDN$2.17. Revenue for the quarter came in at CDN$1.55 billion versus the consensus estimate of CDN$1.23 billion.

"Despite decreased revenues, tied to a delayed grain harvest and stiff economic headwinds, our business model continues to perform on the cost side," said E. Hunter Harrison, CP's Chief Executive Officer. "Our commitment to efficiency, asset optimization, and operational excellence has produced yet another record-low operating ratio."

"Given the delayed grain harvest, lower crude volumes and persistent economic... More