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Canadian Pacific Railway Earnings: CP Stock Chugs Higher on Q2 Results

William White

Canadian Pacific Railway earnings for the second quarter of the year have CP stock on its way up Tuesday.

Canadian Pacific Railway Earnings: CP Stock Chugs Higher on Q2 Results

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Canadian Pacific Railway (NYSE:CP) reported earnings per share of $4.30 for the second quarter of 2019. This is a 36% increase over the company’s earnings per share of $3.16 reported in the same period of the year prior. It was also a massive boon to CP stock by blowing past Wall Streets’ earnings per share estimate of $3.20 for the quarter.

The Canadian Pacific Railway earnings report for the second quarter of the year also includes net income of $724 million. This is better than the company’s net income of $436 million reported during the second quarter of 2018.

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Operating income reported in the Canadian Pacific Railway earnings release for the second quarter of 2019 comes in at $822 million. That’s up from the transportation company’s operating income of $627 million reported for the same time last year.

Canadian Pacific Railway earnings for the second quarter of the year have revenue coming in at $1.98 billion. This is an improvement over the company’s revenue of $1.75 billion reported in the second quarter of the previous year. It was also great news for CP stock by beating out analysts’ revenue estimate of $1.51 billion for the period.

“This quarter, we saw revenue growth across every line of business, strong operating metrics, and our best-ever second-quarter performance from a workload perspective, as measured by Gross Ton-Miles,” Keith Creel, President and CEO of Canadian Pacific Railway, said in a statement.

CP stock was up 3% as of noon Tuesday.

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As of this writing, William White did not hold a position in any of the aforementioned securities.

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