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Canadian Pacific today reported record revenue of CA$2.07 billion in fourth-quarter 2019, up 3 percent from CA$2.01 billion in the same period a year earlier. The Class I's Q4 diluted earnings per share (EPS) climbed 26 percent to $4.82 from $3.83 a year earlier. The adjusted EPS rose 5 percent to $4.77 from $4.55.CP posted a Q4 operating ratio (OR) of 57 percent, up 50 basis points compared with the previous year's mark.Net income for the quarter rose to CA$664 million from $545 million. Total operating expenses increased to CA$1.18 billion from CAS1.13 billion a year earlier."CP's strong operational performance and commitment to controlling costs enabled the railway to be successful despite headwinds to our bulk franchise," said CP President and Chief Executive Officer Keith Creel in a press release. "We continue to take a disciplined approach to sustainable, profitable growth — a plan rooted in the foundations of precision scheduled railroading. This approach in 2019 enabled CP to once again deliver its highest-ever revenues and the lowest-ever yearly operating ratio."For full-year 2019 compared with 2018, CP earned record revenue pf CA$7.79 billion, up 7 percent; a record diluted EPS of $17.52, up 29 percent; an adjusted diluted EPS of $16.44, up 13 percent; and an OR of 59.9 percent, an improvement of 140 basis points.Net income in 2019 was CA$2.4 billion, up from CA$1.95 billion in 2018.CP's full-year 2020 guidance calls for mid-single digit volume growth as measured in revenue ton miles and capital expenditures of CA$1.6 billion.