(Calgary) Canadian Pacific Railway on Tuesday posted net income of $1.27 billion for the fourth quarter of 2022, which compared with a profit of $532 million for the same period a year earlier.
The Calgary railroad’s earnings per share were $1.36, down from 74 cents in the previous fourth quarter.
CP’s revenue reached $2.46 billion, up 21% from the same quarter a year earlier.
Carload freight revenue reached $3,381 in the fourth quarter, representing an 11% year-over-year increase.
Adjusted operating ratio, a key metric that expresses expenses as a percentage of revenue, improved 160 basis points to 59.1%.
For the full year 2022, however, CP’s operating ratio increased by 380 basis points to 61.4%.