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Canadian Pacific Railway beats 3Q estimates on back of North American economy

The results marked a 42% jump from a year earlier and beat the consensus expectations of analysts

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Canadian Pacific Railway’s revenue was at $1.9 billion, a 19% gain from the $1.6 billion from the year-ago quarter.

Canadian Pacific Railway (TSE:CP, NYSE:CP) reported third-quarter results late Thursday that beat analyst expectations.

The rail carrier said the most-recent quarter marked its highest adjusted earnings per share and revenue in the company's 137-year history, driven by "precision scheduled railroading" and a stronger North American economy. 

Earnings came in at $622 million, or $4.35 per diluted share, for the quarter ended Sept. 30, compared with $510 million, or $3.50 per share, for the same period a year earlier.

Adjusted earnings rose to $589 million, or $4.12 per diluted share, two cents better than it forecast earlier this month.

The earnings marked a 42% jump of $2.90 per share, or $422 million, from a year earlier, beating the consensus expectations of Thomson Reuters analysts.

The company said that its operating income amounted to $780 million, marking a 27% gain compared with the year-ago quarter.

Canadian Pacific Railway’s revenue was at $1.9 billion, a 19% gain from the $1.6 billion a year earlier.

Quick facts: Canadian Pacific Railway

Price: 283.84 CAD

TSX:CP
Market: TSX
Market Cap: $39.33 billion
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