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
July 25, 2012 - 7:46 AM
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