OREANDA-NEWS. Canadian Pacific Railway Limited announced record Q2 2014 financial results.

Reported net income in the second quarter was CAD 371 million, or CAD 2.11 per diluted share, versus CAD 252 million, or CAD 1.43 per share, in the second quarter of 2013. This represents a 48 per cent year-over-year improvement in earnings per share.

SECOND-QUARTER 2014 RESULTS COMPARED WITH SECOND-QUARTER 2013:
* Total revenues were CAD 1,681 million, an increase of 12 per cent
* Operating expenses were CAD 1,094 million, an increase of 2 per cent
* Operating income was CAD 587 million, an increase of 40 per cent
* Operating ratio was 65.1 per cent, a 680 basis point improvement

"CP delivered another record quarter," said E. Hunter Harrison, CP's Chief Executive Officer. "The team has made great strides in my two years at CP and they continue to demonstrate resiliency by delivering these results despite continued operational challenges in the US Midwest after a devastating winter. The future is very promising for the railroad as we transition towards leveraging our lower cost structure and improved service."