(Source: Canadian Press, April 23, 2019)
CALGARY, Alberta — The head of Canadian Pacific Railway Ltd. says heavy snowfall and frigid temperatures cooled the company’s quarterly results, resulting in lower tonnage numbers despite a boost in profits thanks in part to crude-by-rail revenues. Despite the weather trouble, Canadian Pacific saw profits shoot up last quarter as crude-by-rail revenues increased and fuel costs declined. Net income rose 25 per cent to $434 million in the quarter ended March 31, compared to $348 million in the same period in 2018, the Calgary-based company said.
Full story: Canadian Press