Higher shipments spur CP

Article Excerpt

CANADIAN PACIFIC RAILWAY $300.24 (Toronto symbol CP; Shares outstanding: 147.7 million; Market cap: $42.0 billion; TSINetwork Rating: Above Average; Dividend yield: 0.9%; www.cpr.ca) ships freight over its 22,000-kilometre rail network between Montreal and Vancouver, with links to hubs in the U.S. Midwest and Northeast. The stock has hit new all-time highs after reporting higher earnings for the first quarter of 2019. The better results came despite harsh winter weather and a fatal derailment in B.C. CP’s earnings in the three months ended March 31, 2019, rose 0.5%, to $392 million from $390 million a year earlier. Due to fewer shares outstanding, per-share earnings rose at a faster rate of 3.3%, to $2.79 from $2.70. In the quarter, revenue improved 6.3%, to $1.77 billion from $1.66 billion a year earlier. Most of the higher revenue came from shipping crude oil, grain, potash, and forest and automotive products. Those gains offset declines in metals, minerals and fertilizer volumes. For all of 2019, the company still expects its…

You are trying to access subscriber-only content.

To read this article, you may subscribe or sign in.
If you are already a subscriber, log in here.

If you wish to become a subscriber, click here. Or you may enjoy access to all our publications when you become a Member of Pat McKeough's Inner Circle Pro.