'Record by almost every measure' in Canadian Pacific's 'watershed' year
CANADA: ‘2018 was a record by almost every measure and will be remembered as a watershed year for our company’, said Canadian Pacific Railway Ltd President & CEO Keith Creel when presenting the operator’s results for the 2018 calendar year on January 23. ‘Our record operating results are proof that the CP family is committed to making this company the best it has ever been.’
Creel said CP ‘set records across many lines of business in 2018, including Canadian grain, potash and domestic intermodal.’
Revenues increased 12% to C$7·3bn, and the operating ratio improved to a record 61·3. Diluted earnings per share decreased 17% to C$13·61, while adjusted diluted EPS rose 27% to C$14·51.
Looking to 2019, CP predicts mid-single digit volume growth, as measured in revenue-tonne-km, double-digit adjusted diluted EPS growth, and capital expenditures of C$1·6bn.
‘We are entering 2019 with tremendous momentum and a commitment to operating the precision scheduled railroading model in its true form’, said Kreel.