Canadian Pacific Railway (CP) has reported better-than-expected third-quarter earnings as
demand for shipments of potash and other commodities remains strong.
The Calgary-based railway company announced Q3 revenue of $2.31 billion, up 19% from
$1.94 billion in the same period of 2021.
Canadian Pacific Railway said revenue from potash shipments rose 48% in the quarter ended
September 30, while revenue from its intermodal business gained 44% and automotive
shipments climbed 31% higher.
The rail company’s net income of $891 million or $0.96 a share was up 89% from $472 million
or $0.71 per share in the same period last year.
Canadian Pacific Railway’s stock is up 6% on the year and currently trading at $99.29 per
share.
