(The following appeared on the Journal of Commerce website on March 22, 2011.)
WASHINGTON, D.C. — Citing severe winter weather and a lag in fuel surcharges catching up with a surge in diesel prices, Canadian Pacific Railway said its “first quarter earnings will be lower.”
CP said the “severity and length of winter events,” plus the fuel cost issues have cut its diluted earnings per share about 40 cents from the same period last year. So it said earnings for the January-March quarter would be in a range of 12 to 22 cents a share; analysts had previously expected about 71 cents.
The full story is on the Journal of Commerce website.