Revenues climbed 13 percent to $1.64 billion, while net income rose 46 percent to $480 million, or $3.27 per diluted share, the highest ever for the period. Adjusted earnings per share rose 35 percent to $2.77 per diluted share.
“This quarter’s impressive results demonstrate the power of precision railroading,” said Keith Creel, CP’s President and Chief Executive Officer. “Strong volumes across many of our key business segments, combined with disciplined cost control, produced record operating income and earnings for the quarter.”
SECOND-QUARTER HIGHLIGHTS
- Total revenues grew 13 percent to $1.64 billion
- Operating ratio improved 330 basis points to a second-quarter record of 58.7 percent
- Operating income increased 23 percent to $679 million, a second-quarter record
- Adjusted income climbed 30 percent to $407 million, with adjusted diluted earnings per share increasing 35 percent to $2.77
- Cash from operations for the first six months rose to $922 million from $730 million a year earlier, supporting a gain in free cash flow to $361 million from $173 million in the same period
“We are off to a strong start in 2017 and remain confident that our team of committed railroaders will continue to safely and efficiently deliver results for our customers and shareholders in the second half of the year and beyond,” Creel said.
