Canadian Pacific Railway earnings for the second quarter of the year have CP stock on its way up Tuesday.
Canadian Pacific Railway (NYSE:CP) reported earnings per share of $4.30 for the second quarter of 2019. This is a 36% increase over the company’s earnings per share of $3.16 reported in the same period of the year prior. It was also a massive boon to CP stock by blowing past Wall Streets’ earnings per share estimate of $3.20 for the quarter.
The Canadian Pacific Railway earnings report for the second quarter of the year also includes net income of $724 million. This is better than the company’s net income of $436 million reported during the second quarter of 2018.
Operating income reported in the Canadian Pacific Railway earnings release for the second quarter of 2019 comes in at $822 million. That’s up from the transportation company’s operating income of $627 million reported for the same time last year.
Canadian Pacific Railway earnings for the second quarter of the year have revenue coming in at $1.98 billion. This is an improvement over the company’s revenue of $1.75 billion reported in the second quarter of the previous year. It was also great news for CP stock by beating out analysts’ revenue estimate of $1.51 billion for the period.
“This quarter, we saw revenue growth across every line of business, strong operating metrics, and our best-ever second-quarter performance from a workload perspective, as measured by Gross Ton-Miles,” Keith Creel, President and CEO of Canadian Pacific Railway, said in a statement.
CP stock was up 3% as of noon Tuesday.
As of this writing, William White did not hold a position in any of the aforementioned securities.