Canadian Pacific reports Q4 income drop on PRB charge; crude by rail grows

摘要

Canadian Pacific reported Tuesday fourth quarter net income of C$15 million, down more than 93% compared with year-ago quarter, partly due to impairment charges related to their decision to indefinitely postpone plans to extend their network into the Powder River Basin. As a result of the writedown and other charges, the Calgary-based Class I railroad reported quarterly net income of C$0.8 per diluted share.