* Fourth-quarter adjusted earnings per share C$1.91 vs est
* Revenue rises 7 pct to C$1.6 bln
* Operating ratio improves 890 basis points to 65.9 pct
* Sees 2014 adj profit up 30 pct or more, rev growth of 6-7
Jan 29 Canadian Pacific Railway ,
Canada's second largest railway, reported a five-fold jump in
fourth-quarter profit, as freight revenue rose 7 percent.
Shipping crude via railroads across North America has surged
amid a boom in oil production that is exceeding pipeline
capacity. But a series of disastrous train derailments in the
past year has drawn intense scrutiny on the industry's safety.
CP Rail said on Wednesday it expects 2014 adjusted earnings
to increase 30 percent or more and revenue to grow 6-7 percent,
compared with 2013.
Net profit rose to C$82 million ($73 million), or 47
Canadian cents per share, in the quarter ended Dec. 31, from
C$15 million, or 8 Canadian cents per share, a year earlier.
Excluding a pre-tax asset impairment charge of C$435 million
and other one-time items, the company earned C$1.91 per share.
Analysts had expected earnings of C$1.95 per share,
according to Thomson Reuters I/B/E/S.
Revenue was up 7 percent to C$1.6 billion.
CP Rail said its adjusted operating ratio improved 890 basis
points to 65.9 percent. Operating ratio is the percentage of
revenue needed to maintain operations and is a key measure of
railroad efficiency. The lower the number the better.
The company forecast operating ratio would be 65 percent or
lower in 2014.
CP Rail shares, which have risen about 40 percent in the
last year, closed at C$158.15 on Tuesday on the Toronto Stock