Canadian Pacific Railway Ltd. missed expectations even though its profits surged 25 per cent during the winter quarter despite lower volumes caused by frigid temperatures and heavy snowfall.“…
Canadian Pacific Railway Ltd. missed expectations even though its profits surged 25 per cent during the winter quarter despite lower volumes caused by frigid temperatures and heavy snowfall.
Chief financial officer Nadeem Velani said the railway’s momentum was interrupted as weather muted revenue growth and resulted in significant expenses. On an adjusted basis, year-over-year diluted earnings per share rose three per cent to $2.79 from $2.70 in the first quarter, far short of analyst expectations of $3.01, according to Thomson Reuters Eikon.
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