Canadian Railroads Report 3Q Results

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anadian freight rail line Canadian National reported a 21% increase in third-quarter profits, while Canadian Pacific said its earnings for the quarter declined due to a foreign exchange loss.

N, the country’s largest railroad, reported it earned C$497 million or 94 cents a share, up from C$411 million or 74 cents last year.

Revenue rose to C$1.98 billion from C$1.81 billion, while operating income rose to C$844 million, up from $C665 million in 2005.

Canadian Pacific’s third-quarter net income was C$161.7 million or C$1.02 a share, down from C$203.6 million or C$1.27 cents last year after a foreign exchange loss on long-term debt, the company said in a statement.

CP’s operating income rose to C$296.9 million, up from C$283.3 million in the third quarter of 2005.

Revenue rose to C$1.12 billion, CP said. The rail carrier retained its forecast of C$3.60 to C$3.85 a share for the full year, but added that it could exceed its guidance by up to 10 cents a share.