CP also touted its operating raio of 65.9%, an improvement of 820 basis points, calling it the "lowest operating ratio in company history."
Third-quarter revenue of C$1.5 billion was 6% above revenue in the same quarter a year ago, and was an all-time quarterly record, CP said. Operating expenses declined 6%, CP added.
"By all standards, this was an outstanding quarter," said CEO E. Hunter Harrison. "The company's focus on service execution while controlling costs is a testament to our team of dedicated, hardworking railroaders.
"What we have proven this quarter is the ability to drive earnings growth and lower our operating ratio, even in a softer volume environment. That's the power of the CP plan," Harrison said.