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Canadian Pacific Railway Q4 revenues increase 10 percent

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Canadian Pacific Railway
Canadian Pacific   The lowest quarterly operating ratio

Canadian Pacific Railway Limited announced the lowest quarterly operating ratio in the company's history and record net income for both the fourth quarter and the full year 2014.

Revenues in the fourth quarter climbed 10 percent to an all-time high $1.76 billion. Net income rose to a record $451 million, or $2.63 per diluted share.

Adjusted earnings in the fourth-quarter jumped to $460 million, or $2.68 per share, from $338 million, or $1.91 per share, in the fourth quarter 2013.

"I am proud of the team at CP, which continues to build momentum as we exited the year with double-digit revenue growth and a sub-60 operating ratio, proving again our ability to control costs while growing the top line," said E. Hunter Harrison, CP's chief executive officer.

"In just two short years, CP has transformed from an industry laggard into a railway leader, and achieved its ambitious 2016 targets two full years ahead of schedule."

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