Canadian Pacific Railway Ltd. said its normalized net income for the third quarter came to C$1.82 per share, compared with the S&P Capital IQ consensus estimate of C$2.68 per share.
EPS declined 8.4% year over year from C$1.98.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$288.1 million, a decrease of 16.2% from C$343.8 million in the year-earlier period.
The normalized profit margin dropped to 16.9% from 20.6% in the year-earlier period.
Total revenue grew year over year to C$1.71 billion from C$1.67 billion, and total operating expenses decreased on an annual basis to C$1.02 billion from C$1.05 billion.
Reported net income declined 19.2% year over year to C$323.7 million, or C$2.04 per share, from C$400.8 million, or C$2.31 per share.
