Canadian Pacific reported a slight increase in its coal revenues of CAN$18 million in 2015 to CAN$639 million, despite a fall of CAN$9 million in 4Q15. Canadian grain shipments were its highest earner, bringing in CAN$1.7 billion of revenue for the company over the calendar year – a rise of CAN$80 million (8%).
Coal carloads were also up by 10 – from 323 in 2014 to 323 in 2015, although revenue per carload did fall slightly from CAN$1985 in 2014 to CAN$1978 in 2015. Other big earners for the company included chemicals and plastics, domestic intermodal shipments, and metals, minerals and consumer products.
Overall, the company reported record revenue of CAN$6.7 billion with adjusted and reported operating ratios of 61% and 60% respectively – another record for the company.
“Despite challenging economic conditions and lower commodity prices, we continue to focus on what we can control – lowering costs, creating efficiencies and improving service,” said CP CEO, Hunter Harrison. “While the North American economy braces itself for more headwinds, we remain optimistic about the future and CP’s continued growth”
Edited by Jonathan Rowland.
Read the article online at: https://www.worldcoal.com/handling/27012016/cp-reports-record-full-year-results-in-2015-122/