Calgary, AB —Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) today announced its fourth-quarter results, including revenues of $2.01 billion, a record-low operating ratio ("OR") of 53.9 percent, diluted earnings per share ("EPS") of $5.95 and record adjusted diluted EPS of $5.06.
Fourth-quarter 2020 highlights
"With a foundation of strong operational performance and a commitment to controlling what we can, the team continues to deliver," said Keith Creel, CP President and CEO.
"Despite the continued COVID-19 impacts, volumes steadily improved over the second half of 2020 and we saw revenue ton mile ("RTM") growth in the fourth quarter."
Full-year 2020 highlights
"I'm proud to say that our 2020 full-year results, including from a safety perspective, exceeded our expectations, in what has been one of the most challenging years any of us have faced," said Creel.
"I'm continually impressed by the resiliency of the CP family, particularly those who provide an essential service to North Americans day in and day out, no matter the challenges.
"The 12,000-strong CP family responded to extraordinary circumstances in 2020 with grit and courage, ensuring that our railway was able to serve our customers, shareholders and communities."
Full-year 2021 guidance
CP's guidance is based on the following key assumptions:
"The uncertainty caused by the COVID-19 pandemic dramatically disrupted global supply chains," said Creel. "By leveraging our unique growth opportunities and applying our precision scheduled railroading operating model, CP is continuing to lead the industry. The momentum we've created in the fourth quarter will continue into 2021."
To read the full report, click here.
About Canadian Pacific
Canadian Pacific is a transcontinental railway in Canada and the United States with direct links to major ports on the west and east coasts. CP provides North American customers a competitive rail service with access to key markets in every corner of the globe. CP is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpr.ca to see the rail advantages of CP. CP-IR
Related Articles:
Sign up here for grain industry news delivered to your inbox every Thursday.
ADM Reports 4Q 2020 Net Earnings of $687 Million, Up from $504 Million in 4Q 2019
Iowa State's Dirk Maier Previews GEAPS Presentation on Global Post-Harvest Grain Storage Challenges
Canadian Pacific Reports Fourth-Quarter 2020 Revenue of $2.01 Billion, Down 3%