|  Clifton Linton

Brief: Crude-by-Rail Fuels Strong Q4 for CP Rail

Canadian Pacific Railway handled 18,000 carloads of crude by rail in the fourth quarter, a traffic boost that helped the railroad post its best ever fourth quarter results.

Revenue rose 5% to $1.71 billion and the company recorded an industry best operating ratio of 56.1%. The operating ratio is a widely watched measure of a railroad’s profitability. Fourth quarter diluted earnings per share rose 159% to $6.77 from $2.61 the year prior. The gain was supported by an income tax recovery of $527 million -- related to the passage of tax reforms by the U.S. Congress in December. After adjustment, earnings per share rose 6% to $3.22/ from $3.04.

In his 2018 outlook offered during the comp...

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