(Source: Freight Waves, April 21, 2021)
CHATTANOOGA, Tenn. — Canadian Pacific’s freight revenue for the first quarter of 2021 slipped 4% to CA$1.96 billion amid flat year-over-year volumes and a 2.5% decline in operating expenses. One Canadian dollar equals 80 cents in U.S. currency. Net income for the first quarter of 2021 jumped 47% year-over-year to CA$602 million, or CA$4.50 per diluted share, from CA$409 million, or CA$2.98 per diluted share, in the first quarter of 2020. CP’s first-quarter operating ratio (OR) was 60.2% compared with 59.2% a year ago.
Full story: Freight Waves