(Source: Canadian Pacific Railway press release, October 25, 2011)
CALGARY, Alberta — Canadian Pacific Railway Limited announced its third-quarter 2011 results today with reported net income of $186.8 million and diluted earnings per share of $1.10, inclusive of $0.04 per share of expenses related to the early redemption of its 2013 Notes.
THIRD-QUARTER 2011 RESULTS COMPARED WITH THIRD-QUARTER 2010
• Total revenues were $1.3 billion, an increase of $55.4 million
• Operating expenses were $1.0 billion, an increase of $68.5 million
• Average fuel price increased 47 per cent to $3.44 U.S. dollars per U.S. gallon
• Operating income was $324.6 million, a decrease of $13.1 million
• Net income was $186.8 million, a decrease of $10.5 million
• Diluted earnings per share were $1.10 per share, a decline of $0.07 per share or a decline of $0.03 per share exclusive of the early redemption of the 2013 Notes
“We currently see strength in our bulk franchise, but remain vigilant in monitoring economic signals from Asia,” stated Fred Green President and CEO. “We are focused on sustaining and improving service and productivity through investments in locomotives, infrastructure, people and technology.”