November 13, 2008 / 6:18 PM / 10 years ago

CP Rail says will not offer 2009 earnings forecast

VANCOUVER, British Columbia, Nov 13 (Reuters) - Canadian Pacific Railway (CP.TO) is not ready to provide earnings or revenue forecasts for 2009 due to the current economic uncertainty, Chief Executive Fred Green said on Thursday.

“The huge range of possible economic activity makes earnings guidance estimates too wide to be meaningful,” Green told the company’s Investors Day meeting, at which it has usually released its forecasts for the year ahead.

Green said the only financial guidance the railway was ready to release was its announcement earlier on Thursday that it had significantly lowered its forecast for capital expenditures for 2009 in response to the difficult economic climate. (Reporting Allan Dowd, Editing by Peter Galloway)

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