Canadian Pacific Railway Limited Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2012; Provides Earnings Guidance for the Full Year of 2013; Announces Asset Impairment Charges for the Fourth Quarter of 2012
For the year, the company reported total revenue of CAD 5,695 million against CAD 5,177 million a year ago. Operating income was CAD 949 million against CAD 967 million a year ago. Income before income tax expense was CAD 636 million against CAD 697 million a year ago. Net income was CAD 484 million against CAD 570 million a year ago. Diluted earnings per share were CAD 2.79 against CAD 3.34 a year ago. Cash provided by operating activities was CAD 1,328 million against CAD 512 million a year ago. Additions to properties were CAD 1,148 million against CAD 1,104 million a year ago.
For the quarter, asset impairment, before tax was CAD 265 million.
The company provided earnings guidance for the full year of 2013. For the year, the company expects, revenue growth to be in the high single digits, operating ratio to be in the low 70s and diluted EPS to be up in excess of 40% versus 2012's diluted EPS, excluding significant items of CAD 4.34.