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Canadian Pacific Railway Q2 profit climbs 10.1% YOY

Canadian Pacific Railway Ltd. said its normalized net income for the second quarter came to C$2.15 per share, compared with the S&P Capital IQ consensus estimate of C$2.48 per share.

EPS rose 17.4% year over year from C$1.83.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$354.4 million, an increase of 10.1% from C$321.9 million in the prior-year period.

The normalized profit margin increased to 21.5% from 19.1% in the year-earlier period.

Total revenue decreased year over year to C$1.65 billion from C$1.68 billion, and total operating expenses decreased 8.1% on an annual basis to C$1.00 billion from C$1.09 billion.

Reported net income grew 4.9% from the prior-year period to C$389.4 million, or C$2.36 per share, from C$371.1 million, or C$2.11 per share.