-1 C
New York
December 14, 2024
Worship Media
Business

Canadian Pacific Railway reports Q3 revenue and profit down from year ago

CALGARY — Canadian Pacific Railway Ltd. says it earned $598 million in its latest quarter, down from $618 million in the same quarter last year.

The railway says the profit amounted to $4.41 per diluted share for the quarter ended Sept. 30, down from $4.46 per diluted share a year ago.

Revenue for the company’s third quarter totalled $1.86 billion, down from $1.98 billion in its third quarter last year.

On an adjusted basis, the railway says its $4.12 per diluted share for the quarter compared with an adjusted profit of $4.61 per diluted share a year ago.

Analysts on average had expected an adjusted profit of $4.23 per diluted share and revenue of $1.87 billion, according to financial data firm Refinitiv.

In its outlook, CP Rail says it expects a low-single-digit decline in revenue ton-miles in 2020 and at least mid-single-digit adjusted diluted earnings per share growth. The railway says it continues to expect capital expenditures of $1.6 billion this year.

This report by The Canadian Press was first published Oct. 20, 2020

Click Here to Visit Orignal Source of Article https://www.ctvnews.ca/business/canadian-pacific-railway-reports-q3-revenue-and-profit-down-from-year-ago-1.5152446

Related posts

B.C. regulator issues more than $6 million in fines in Ponzi scheme case

CTV News

North American stock markets lose ground as investors take profits from recent highs

CTV News

Australia to amend laws to make Google and Facebook pay

CTV News

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy