Canadian Pacific (CP) posted higher revenues, but lower profits, in the third quarter of 2021. The transcontinental railway profits were hit by higher fuel costs, and disappointing Canadian grain crops. Revenue came in at C$1.94 billion in the third quarter of 2021, an increase of 4.3% from C$1.86 billion last year. Revenue missed analysts estimates by C$20 million. Diluted EPS was C$0.70 in Q3 2021, a decrease of 20% from C$0.88 in Q3 2020. On an adjusted basis, CP earned C$0.88 per share for the quarter, up 7.3% from C$0.82 last year. It missed analysts' estimates by C$0.06.
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Canadian Pacific Railway (NYSE:CP)
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