(Reuters distributed the following article on July 23.)
CALGARY, Alberta — Canadian Pacific Railway, the country’s No. 2 carrier, said on Wednesday second-quarter profit fell largely due to a one-time charge of C$150 million ($106 million) related to job cuts.
CP Rail, which warned of the pressures on its business and intensified job cuts last month, earned C$29 million, or 18 Canadian cents a share, down from year-earlier C$169 million, or C$1.06 a share.
The earnings lagged an average estimate of 51 Canadian cents a share among analysts surveyed by Thomson First Call.
Revenues from freight increased to C$875 million from C$873 million