(Calgary) The Canadian Pacific Railway (CP) posted a profit of 532 million for its most recent quarter on Thursday, down 33.7% from that of 802 million for the same period a year earlier.
Posted yesterday at 5:16 p.m.
The Calgary railroad earned a profit of 74 cents per share for the quarter ended Dec. 31, after earning $1.19 per share for the fourth quarter of 2020.
On an adjusted basis, CP’s profit per share reached 95 cents, compared with $1.01 a year earlier.
The carrier’s revenue climbed 1% to 2.04 billion, compared to its revenue of 2.01 billion in the last quarter of 2020.
CP’s operating ratio — which expresses expenses as a percentage of revenue — increased to 59.2% from 53.9% a year ago.
The company said its most recent quarter operating ratio included $36 million in costs related to its acquisition of Kansas City Southern (KCS). The $31 billion deal will create the only North American railroad with tracks in Canada, the United States and Mexico.
The deal was reached in December through a voting trust, but it is still awaiting final approval from US regulators.