Bakken crude flows along Canadian Pacific tracks - Date unknown Canadian Pacific.

20 April 2012

Canadian Pacific Announces First-Quarter 2012 Results and Record Operating Performance Metrics

Calgary Alberta - Canadian Pacific Railway Limited announced its first-quarter 2012 results today with reported net income of $142 million, an increase of $108 million, or 318 percent, from the same period in 2011, and diluted earnings per share of $0.82, an increase of $0.62, or 310 percent, from the same period in 2011.
 
Fred Green, President and Chief Executive Officer, said, "Our record operating metrics are driving enhanced financial results, as evidenced by a strong first quarter performance. By aggressively executing on the Multi-Year Plan, CP delivered an increase in revenues of $213 million and an improvement in operating ratio of 1,050 bps during the quarter."
 
"We have improved operating momentum, we are delivering excellent service, and we have a stronger, more resilient rail network. This quarter, we generated an 18 percent year-over-year increase in freight revenues. Looking ahead, we are confident we can continue to deliver improvements in our operating metrics and financial performance and further growth in shareholder value."
 
FIRST-QUARTER 2012 RESULTS COMPARED WITH FIRST-QUARTER 2011
 
·  Total revenues were $1.4 billion, an increase of $213 million;
 
·  Operating expenses were $1.1 billion, an increase of $48 million;
 
·  Average fuel price increased 12 percent to $3.50 U.S. dollars per U.S. gallon;
 
·  Operating income was $274 million, an increase of $165 million;
 
·  Operating ratio was 80.1 percent, an improvement of 1,050 basis points;
 
·  Net income was $142 million, an increase of $108 million;
 
·  Diluted earnings per share were $0.82 per share, an increase of $0.62 per share.