Canadian Pacific Railway Sees End of the Line for Government-Owned Grain Cars
Canadian Pacific Railway Ltd. is ready to buy its own grain cars, sidelining 6,000 government-provided ones from the 1970s that are no longer up to the job.
July 20, 2017Canadian Pacific Posts Strong 2Q Showing, Profits Up 46%
Canadian Pacific Railway continued a positive second quarter for rail freight carriers with profits jumping 46% due to growth in business in intermodal and the transportation of grain, potash, metals and minerals.
July 19, 2017Canadian Pacific's Wallace Takes Leave, Could Join Harrison Atop CSX
Mark Wallace, chief of staff at Canadian Pacific Railway Ltd., was put on a paid leave of absence on Jan. 27, prompting more speculation that Wallace and outgoing CEO Hunter Harrison will attempt to take over the reins at rival railroad CSX Corp. through private investor Paul Hilal of Mantle Ridge.
January 27, 2017Canadian Pacific Separation Deal With Harrison Stokes CSX Speculation
Canadian Pacific has reached a separation agreement with CEO Hunter Harrison effective at the end of the month, according to a filing with the Securities and Exchange Commission, which could stoke speculation that he and private investor Paul Hilal will attempt to assume control at rival railroad CSX.
January 24, 2017Railroads Report Better Fourth Quarter, But Shakeup Could Alter Industry in 2017
The fourth quarter marked a turnaround for the railroad companies from the lackluster year, according to earnings released last week, but a potentially major shakeup could result in an interesting 2017 for the industry.
January 19, 2017Canadian Pacific Cuts Profit Target as Commodities Cargo Slumps
Canadian Pacific Railway Ltd. reduced its full-year profit target, amid revenue declines in commodities such as crude oil and a delayed grain harvest in western Canada.
October 19, 2016Union Pacific, Canadian Pacific Earnings Slump; Kansas City Southern Gains
Union Pacific Corp. and Canadian Pacific Railway Ltd. this week reported second-quarter net income fell 19% and 16% respectively in a weak rail freight market, while smaller carrier Kansas City Southern raised net income 7% with help from a tax credit.
July 21, 2016Canadian Pacific Earnings Exceed Estimates on Cost Cutting
Canadian Pacific Railway reported second-quarter earnings that topped analysts’ estimates as the carrier reduced costs by cutting jobs and running longer trains to make up for a cargo slump.
July 20, 2016Canadian Pacific Railway Outlook Disappoints as Sales Plunge
Canadian Pacific Railway provided a second-quarter profit outlook that fell short of estimates amid a plunge in sales.
June 22, 2016Canadian Pacific Railway Announces Buyback as Profit Tops Estimates
Canadian Pacific Railway, having failed in its bid to buy Norfolk Southern Corp., will buy back as much as C$1.31 billion ($1.04 billion) of its stock, confirming an effort outlined by CEO Hunter Harrison.
April 20, 2016