CP Rail earns $1.27 billion, revenues up 21 per cent in fourth quarter
Canadian Pacific Railway Ltd. says it earned $1.27 billion in the fourth quarter of 2022, compared with $532 million in the same period of 2021.
The diluted profit worked out to $1.36 per share, compared to 74 cents per share in the prior year's quarter.
The Calgary-headquartered company reported revenue of $2.46 billion, a 21 per cent increase from the same period of 2021.
CP says its freight revenue per carload for the fourth quarter was $3,381, an 11 per cent increase year-over-year.
The company says its adjusted operating ratio, a key metric of railroad efficiency where a smaller number is better, increased 160 basis points to 59.1 percent.
For the full year 2022, CP Rail's adjusted operating ratio increased 380 basis points to 61.4 percent.
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