Canadian Pacific Kansas Metropolis Ltd. says it expects its adjusted earnings to develop by double digits this 12 months, following an virtually 20 per cent year-over-year drop in internet revenue final quarter.
The Calgary-based firm says internet revenue attributable to controlling shareholders totalled $1.02 billion within the quarter ended Dec. 31, down from $1.27 billion in the identical interval a 12 months earlier than.
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CPKC — the product of Canadian Pacific’s buy of Kansas Metropolis Southern in April — says it boosted revenues to $3.78 billion final quarter from $2.46 billion a 12 months earlier, which was earlier than the acquisition.
The railroad operator says its fourth-quarter diluted earnings per share fell 19 per cent to $1.10 versus $1.36 per share the earlier 12 months.
Analysts had predicted diluted earnings of $1.13 per share, in accordance with monetary markets knowledge agency Refinitiv.
CPKC is planning capital spending of $2.75 billion all through 2024 and forecasting core adjusted mixed diluted earnings per share will develop within the double digits from $3.84 per share in 2023.
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