Canadian Pacific Railway profits fall in second quarter on series of expenses | iNFOnews | Thompson-Okanagan's News Source

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Canadian Pacific Railway profits fall in second quarter on series of expenses

Canadian Pacific Rail locomotives sit idle at the company's Port Coquitlam yard east of Vancouver on May 23, 2012. THE CANADIAN PRESS/Darryl Dyck

CALGARY - Canadian Pacific Railway Ltd. (TSX:CP) says a series of expenses, ranging from management transition costs to a nine-day strike, contributed to weaker second-quarter earnings.

The railway operator reported net income fell to $103 million, or 60 cents per share, in the three months ended June 30.

That compares to a profit of $128 million, or 75 cents per share, a year earlier.

Revenue increased to $1.37 billion from $1.27 billion.

Canadian Pacific transports coal, fertilizer, grain, automobiles, consumer goods and other materials across its North American rail network.

News from © The Canadian Press, 2012
The Canadian Press

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