(Source: Freight Waves, July 28, 2022)
Deploying precision scheduled railroading (PSR) is an art and a process, and the operational model shouldn’t be blamed for poor rail service, Canadian Pacific President and CEO Keith Creel told investors during a second-quarter 2022 earnings call Thursday. CP posted a net profit of CA$765 million ($597 million), or 82 cents per diluted share, in the second quarter of 2022, compared with net profit of $1.25 billion, or $1.86 per diluted share, in the second quarter of 2021. Second-quarter total revenue rose 7% to $2.2 billion, while operating expenses grew 8% to $1.33 billion amid higher fuel costs.
Full story: Freight Waves