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CP Railís 1Q 2019 profit soared on higher crude revenues despite tough winter weather

(Source: Canadian Press, April 23, 2019)

CALGARY, Alberta ó The head of Canadian Pacific Railway Ltd. says heavy snowfall and frigid temperatures cooled the company's quarterly results, resulting in lower tonnage numbers despite a boost in profits thanks in part to crude-by-rail revenues. Despite the weather trouble, Canadian Pacific saw profits shoot up last quarter as crude-by-rail revenues increased and fuel costs declined. Net income rose 25 per cent to $434 million in the quarter ended March 31, compared to $348 million in the same period in 2018, the Calgary-based company said.

Full story: Canadian Press

Wednesday, April 24, 2019

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