Canadian Pacific Railway profits fall in second quarter on series of expenses

CALGARY – Canadian Pacific Railway Ltd. (TSX:CP) says a series of expenses, ranging from management transition costs to a nine-day strike, contributed to weaker second-quarter earnings.

The railway operator reported net income fell to $103 million, or 60 cents per share, in the three months ended June 30.

That compares to a profit of $128 million, or 75 cents per share, a year earlier.

Revenue increased to $1.37 billion from $1.27 billion.

Canadian Pacific transports coal, fertilizer, grain, automobiles, consumer goods and other materials across its North American rail network.

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