28 July 2010

Canadian Pacific Announces
Second-Quarter Results

Calgary Alberta - Canadian Pacific Railway Limited today announced second-quarter net income of $166.6 million. Diluted earnings per share were $0.98, up 23 percent from $0.80 in the second-quarter 2009 which included a $0.41 per share gain from an asset sale.
 
Q2 2010 Earnings Release and Financial Reports
 
"We leveraged volume growth in the quarter to deliver a solid financial performance through a keen focus on cost management", said Fred Green, President and CEO. "Our emphasis on safety, productivity, and asset velocity is improving service reliability for our customers".
 
SECOND-QUARTER 2010 COMPARED WITH SECOND-QUARTER 2009
 
Adjusted diluted earnings per share increased 96 percent to $0.92
 
Total revenues were up 20 percent to $1.23 billion
 
Operating income increased 48 percent to $274.1 million
 
Adjusted earnings increased 97 percent to $156.2 million
 
Operating ratio improved 430 basis points to 77.8 percent
 
"Markets are likely to remain volatile", added Green. "Our proven track record of quickly adjusting our resources to meet changing volume demands position us well for the second half."