Canadian Pacific and Canadian Tire Corporation announced the deployment of North America’s first 60-foot intermodal container for use by the retailer. Page Content
The new containers will increase shipping productivity and efficiency, while helping to reduce freight carbon intensity.
Canadian Pacific joined K+S Potash Canada (KSPC) in celebrating the grand opening of its Legacy Project mine site. The mine is the first of its kind built in Saskatchewan in more than 40 years, and the rail infrastructure built to serve the mine is the most significant engineering project undertaken by CP since the mid-1980s.
CN and Duluth Cargo Connect announced a new alliance establishing the first rail-served intermodal container ramp in the Twin Ports of Duluth, Minn. and Superior, Wisconsin. Duluth Cargo Connect, a working partnership of the Duluth Seaway Port Authority and Lake Superior Warehousing, will operate the rail-served facility at the port’s Clure Public Marine Terminal.
By Peter G Hall, Vice President and Chief Economist
Ever seen a particular stock do really well? It’s hard to resist buying in. And if it does consistently well year after year, well, it’s hard to resist devoting a huge chunk of the portfolio to it. That’s sort of what the U.S. economy is to Canada. It has paid off so well for us over the years that we are deeply into it. As investment professionals would say, that’s too much single exposure. It has long since been said that Canada needs to diversify trade and international activities beyond the U.S.; have we made any progress in recent years?
While both of Canada’s major railways felt the effects of a weak economy, CN produced another quarter of stellar results, while CP produced more modest results.
During the quarter, CN’s revenues increased by just over 8 per cent to $3.3 billion. However, operating expenses rose by almost 9 per cent. Net income before income taxes rose from $1,099 million during the first quarter of 2016 to $1,183 million during Q1 of 2017. Cash flow from operations increased to $1,265 million during the period, up from $1,065 million during the same period of 2016. “Free” cash flow, the amount remaining from operating cash flow after subtracting net investments made during the quarter and dividends paid to investors, increased to $547 million from $303 million during the first quarter of 2016.
