Media Kit » Try RailPrime™ Today! »
Progressive Railroading
Newsletter Sign Up
Stay updated on news, articles and information for the rail industry



This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.




railPrime
View Current Digital Issue »


RAIL EMPLOYMENT & NOTICES



Rail News Home Canadian Pacific

6/21/2016



Rail News: Canadian Pacific

CP expects 12 percent decline in 2Q revenue


advertisement

Canadian Pacific expects second-quarter revenue to decline about 12 percent compared with the same 2015 period, the railroad announced this morning.

The reasons: lower-than-anticipated volumes in bulk commodities such as grain and potash, the "unexpected and devastating wildfires" in northern Alberta and a strengthening Canadian dollar, CP officials said in a press release.

The Class I, which also expects a 2Q operating ratio of about 62, will continue to focus on "controlling costs in a difficult environment," CP Chief Executive Officer E. Hunter Harrison said.

"While we acknowledge the environment remains challenging, additional cost-reduction opportunities and the potential for stronger volumes in the back half of the year still lead us to believe that achieving double-digit EPS growth in 2016 is a possibility," Harrison added.

CP will release its 2Q financial and operating results on July 20.




Contact Progressive Railroading editorial staff.

More News from 6/21/2016