CALGARY - Canadian Pacific Railway Ltd. (TSX:CP) says its profit was cut to $15 million in the fourth quarter as it recognized a number of expenses related to restructuring.
The profit amounted to eight cents per share before adjustments, down from $1.30 per diluted share a year earlier when net income was $221 million.
On an adjusted basis, Canadian Pacific says it earned $1.28 per share, an improvement from $1.11 a year earlier.
The adjusted earnings were in line with estimates compiled by Thomson Reuters.
Canadian Pacific's revenue in the three-month period rose to $1.5 billion, up nearly $100 million from a year earlier and slightly ahead of expectations.