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Company News

Canadian Pacific Railway posts 5.7% fall in profit, sees flat 2020 earnings

April 21 (Reuters) - Canadian Pacific Railway Ltd, the country’s second largest railroad operator, posted a 5.7% fall in quarterly profit on Tuesday, and warned it expects full-year adjusted earnings to be flat compared to last year due to the coronavirus pandemic.

The company’s net income fell to C$409 million, or C$2.98 per share, in the first quarter ended March 31, from C$434 million, or C$3.09 per share, a year earlier.

Revenue rose to C$2.04 billion from C$1.77 billion. (Reporting by Sanjana Shivdas in Bengaluru; Editing by Shounak Dasgupta)

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