Canadian Pacific Railway Limited announced first-quarter operating results, including revenues of $2.04 billion, an operating ratio (“OR”) of 59.2 percent, diluted earnings per share (“EPS”) of $2.98 and adjusted diluted EPS of $4.42. “These impressive Q1 2020 results are due to the efforts of our CP family, the leadership of our talented management team and strict adherence to the foundations of our precision scheduled railroading model,” said Keith Creel, President and Chief Executive Officer. “The entire CP team is proud to deliver for our customers, shareholders and the broader economy today, and always.”

First-quarter highlights

• Revenues increased by 16 percent to a Q1 record $2.04 billion, from $1.77 billion last year
• Reported diluted EPS was $2.98, a 4 percent decrease from $3.09 last year, and adjusted diluted EPS was $4.42, a 58 percent increase from $2.79 last year
• Operating ratio improved by 1,010 basis points to a Q1 record 59.2 percent
• Operating income increased by 54 percent to $834 million from $543 million last year

As a result of the ongoing impacts of the COVID-19 pandemic to business operations and the broader macroeconomy, CP has updated its 2020 outlook. Based on CP’s current view of the demand environment, the Company now expects volume, as measured in revenue ton miles, to be down mid-single digits and adjusted diluted EPS to be roughly flat year over year. In spite of currency headwinds, CP continues to expect capital expenditures of $1.6 billion as the Company takes advantage of available track time to better position the network for recovery and support long-term shareholder returns.

-via Press Release