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.