CP Reports Highest-Ever Revenue for Third Quarter
Revenue rose to USD 1.71 billion, a gain of 2 percent, while the adjusted operating ratio improved 290 basis points to a record-low for the period of 59.9 percent.
"I am proud of the CP team's execution this quarter amid stubborn economic softness and the lowest commodity prices in more than a decade," said E. Hunter Harrison, CP's Chief Executive Officer. "It's clear that despite the ongoing tough economic environment, our continued focus on service, cost control and incremental investment in the franchise will serve customers and shareholders well in the long run."
THIRD-QUARTER 2015 HIGHLIGHTS
* Revenue increased 2 percent to USD 1.71 billion
* Adjusted operating income climbed 10 percent to USD 685 million
* Adjusted operating ratio fell to a third-quarter record 59.9 percent, a 290-basis-point improvement
* Adjusted earnings per share advanced 16 percent to USD 2.69
"CP's ability to generate bottom-line double-digit earnings growth in varied economic conditions demonstrates the resiliency and the power of our business model" Harrison said.