By Adriano Marchese
Shares in Canadian Pacific Railway Ltd. fell in early trading Friday after the company said costs and operating expenses rose in the fourth quarter, weighing on profit in the period.
At 9:46 a.m. ET, the Toronto-listed shares were down 3.5% at C$90.57.
After the markets closed Thursday, the Canadian railway operator reported earnings per share of 74 Canadian cents (58 U.S. cents), down from C$1.19 in the year-earlier quarter, while adjusted EPS was C$0.95.
Total operating expenses increased to C$1.21 billion from C$1.08 billion in the fourth quarter of 2020, and CP paid C$157 million in costs related to the purchase of Kansas City Southern.
Write to Adriano Marchese at email@example.com
(END) Dow Jones Newswires