Canadian Pacific Railway Ltd. said its normalized net income for the fourth quarter came to C$2.24 per share, compared with the S&P Capital IQ consensus estimate of C$3.11 per share.
EPS increased 20.8% year over year from C$1.85.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$329.4 million, an increase of 15.6% from C$285.0 million in the year-earlier period.
The normalized profit margin increased to 20.1% from 16.9% in the year-earlier period.
Total revenue declined on an annual basis to C$1.64 billion from C$1.69 billion, and total operating expenses decreased 8.9% year over year to C$920.0 million from C$1.01 billion.
Reported net income rose 19.9% from the prior-year period to C$384.0 million, or C$2.61 per share, from C$320.3 million, or C$2.08 per share.
For the year, the company's normalized net income totaled C$9.04 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of C$10.35.
EPS rose from C$7.40 in the prior year.
Normalized net income was C$1.36 billion, an increase from C$1.19 billion in the prior year.
Full-year total revenue decreased year over year to C$6.23 billion from C$6.71 billion, and total operating expenses declined year over year to C$3.65 billion from C$4.12 billion.
The company said reported net income rose year over year to C$1.60 billion, or C$10.63 per share, in the full year, from C$1.35 billion, or C$8.40 per share.
