Topic: How To Invest

The Successful Investor Hotline – Friday, July 19, 2019

Article Excerpt

CANADIAN PACIFIC RAILWAY LTD., $310.77, Toronto symbol CP, ships freight over a 22,000-kilometre rail network between Montreal and Vancouver, with links to hubs in the U.S. Midwest and Northeast. The company continues to benefit from strong demand and higher prices for crude-by-rail services, as well as better efficiency. CP’s earnings in the three months ended June 30, 2019, jumped 32.9%, to $602 million from $453 million a year earlier. Due to fewer shares outstanding, per-share earnings rose at a faster rate of 36.1%, to $4.30 from $3.16. Those figures reflect stronger revenue and improved efficiency. They also exclude unusual items, among them a gain related to changes in the Alberta corporate tax rate. On that basis, the latest earnings easily beat the consensus estimate of $4.15. In the quarter, revenue improved 13.0%, to $1.98 billion from $1.75 billion a year earlier. That matched the consensus forecast. In addition to high crude oil volumes, CP also saw strong gains from shipping grain, potash and other…

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