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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Canadian Pacific Railway Limited    CP   CA13645T1003

CANADIAN PACIFIC RAILWAY LIMITED

(CP)
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Canadian Pacific Railway : CP Railway's profit tops estimates on higher potash, crude shipments

04/18/2018 | 05:39pm EST
The Canadian Pacific railyard is pictured in Port Coquitlam.

(Reuters) - Canadian Pacific Railway's first-quarter profit topped analysts' expectations as the railroad operator shipped higher volumes of commodities such as potash and crude oil, offseting the impact of higher expenses.

The results come as unionized workers at CP, Canada's second largest railroad, prepared to strike as early as Saturday after a stalemate in talks with the company over certain demands.

In a call with analysts, CP Chief Executive Keith Creel said he was in "very close contact" with the labor unions.

"We cannot make and will not make a bad short-term deal that jeopardizes our ability to protect the long-term interest and strength of this company, the benefit our customers, employees and the Canadian economy," Creel added.

CP said that while revenue from grain — among the biggest contributors to overall results — slipped 9 percent, potash revenue and revenue from energy, chemicals and plastics both increased over 10 percent.

CP's operating ratio — operating costs as a percentage of revenue — rose to 67.5 percent from 62.4 percent a year earlier. A lower ratio indicates higher efficiency.

Net income fell to C$348 million ($275.8 million) from C$431 million a year earlier. Excluding one-time items, CP earned C$2.70 per share, topping analysts' average estimate by 2 Canadian cents, according to Thomson Reuters I/B/E/S.

The Calgary-based company's total revenue rose nearly 4 percent to C$1.66 billion.

($1 = 1.2620 Canadian dollars)

(Reporting by Ahmed Farhatha in Bengaluru and Allison Lampert in Montreal; Editing by Arun Koyyur and Sai Sachin Ravikumar)


© Reuters 2018
Stocks mentioned in the article
ChangeLast1st jan.
CANADIAN PACIFIC RAILWAY LIMITED 0.62% 454.23 Delayed Quote.2.24%
THOMSON REUTERS CORPORATION 2.95% 102.17 Delayed Quote.-1.93%
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Financials
Sales 2020 7 737 M 6 074 M 6 074 M
Net income 2020 2 300 M 1 806 M 1 806 M
Net Debt 2020 9 167 M 7 196 M 7 196 M
P/E ratio 2020 26,8x
Yield 2020 0,76%
Capitalization 61 008 M 47 904 M 47 892 M
EV / Sales 2020 9,07x
EV / Sales 2021 8,41x
Nbr of Employees 12 166
Free-Float 100,0%
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Technical analysis trends CANADIAN PACIFIC RAILWAY LIMITED
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 30
Average target price 452,72 CAD
Last Close Price 454,23 CAD
Spread / Highest target 11,4%
Spread / Average Target -0,33%
Spread / Lowest Target -29,6%
EPS Revisions
Managers and Directors
NameTitle
Keith Edward Creel President, Chief Executive Officer & Director
Isabelle Courville Chairman
Mark Redd Executive Vice President-Operations
Nadeem S. Velani Chief Financial Officer & Executive Vice President
Michael John Redeker Chief Information Officer & Vice President
Sector and Competitors