Monday, October 30, 2006 at 5:30 pm

CP 3Q Results: Coal Down 25%

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CP logo Last week, Canadian Pacific reported third-quarter net income of $168 million ($1.06 per share) on revenues of $1.12 billion, down by $42 million compared with 3Q 2005 due to foreign exchange and a one-time charge. Coal revenues were down sharply — 25 per cent — but everything else was up and more than made up the difference (grain, for example, was up 18 per cent). CP says it may surpass its earnings outlook for the year. Press release, conference call.

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