Canadian Pacific’s net income skyrockets in 2017

The Class I railway revealed that for 2018, it is planning to invest between C$1.35 billion and C$1.5 billion in capital programs, and is expecting mid-single-digit revenues growth.    Class I railway Canadian Pacific recorded a net income of $2.41 billion Canadian (U.S. $1.94 billion) for 2017, surging from C$1.6 billion for 2016, the company reported Thursday.
   Meanwhile, revenues totaled C$6.55 billion for 2017, up 5 percent from 2016.
   In the fourth quarter alone, Canadian Pacific recorded a net income of C$984 million, compared to C$384 million for the fourth quarter of 2016.
   Revenues for the fourth quarter of 2017 stood at C$1.71 billion, an increase of 5 percent year-over-year.
   Looking ahead, Canadian Pacific expects mid-single-digit revenues growth in 2018, and plans to invest between C$1.35 billion and C$1.5 billion in capital programs throughout the year.
   Canada’s other Class I cargo railway, Canadian National, revealed earlier this month that it will report fourth quarter and year-end 2017 financial and operating results on Jan. 23, 2018.