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CP posts 12 percent decline in Q2 revenue, announces Creel as next CEO

from Progressive Railroading

Canadian Pacific's second-quarter 2016 revenue fell 12 percent to $1.45 billion, operating income dropped 15 percent to $551 million and net income decreased 16 percent to $328 million (all in Canadian dollars) compared with the same period last year, the Class I announced this morning. Reported diluted earnings per share declined 9 percent to $2.15 from $2.36 and adjusted diluted earnings per share decreased 16 percent to $2.05 from $2.45 due in large part to the 12 percent drop in revenue, CP officials said in a press release. more

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