Canadian Pacific Q1 profit rises to $254 million, revenue edges up

CALGARY – Canadian Pacific Railways (TSX:CP) says it overcame a slow start to the year and produced a $254 million net profit in the first quarter, up 17 per cent from $217 million in the comparable period in 2013.

Net income per share rose to $1.44 from $1.24 in last year’s first quarter.

The Calgary-based company’s revenue also increased year-over-year but more slowly, rising to $1.509 billion from $1.495 billion in last year’s first quarter.

CP’s operating expenses declined substantially to $1.086 billion from $1.133 billion while its operating ratio improved by 3.8 percentage points to 72.0 per cent.