Published on 01/31/2023 at 17:11
Calgary Railroad earnings per share were $1.36. (Photo: The Canadian Press)
Calgary – Canadian Pacific Railway reported net income of US$1.27 billion (B$) for the fourth quarter of 2022 on Tuesday, compared to a profit of US$532 million (M$) in the same period last year.
The Calgary Railroad’s earnings per share were $1.36, compared to 74 cents in the previous fourth quarter.
CP revenue reached $2.46 billion, up 21% from the prior-year quarter.
Freight revenue per truckload was $3,381 in the fourth quarter, up 11% year over year.
The adjusted operating rate, a key metric that expresses spend as a percentage of revenue, improved 160 basis points to 59.1%.
However, for full-year 2022, CP’s operating rate increased 380 basis points to 61.4%.
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