We believe CP can reach full steam under the leadership of operations expert Keith Creel.
Labor actions interrupted Canadian Pacific’s service twice during the second quarter, but ratification of two related agreements are in progress this week. The rail grew its top line 7% year over year, even though management estimates that top-line growth was constrained 250 basis points due to labor interruptions. The operating ratio degraded 140 basis points from the prior-year period to 64.2%, in part due to fuel surcharge lag, and without labor disruptions, the OR likely would have been flat...Canadian Pacific Railway operates a transcontinental railway in Canada and the U.S. Co.'s business mix includes bulk commodities, merchandise freight and intermodal traffic, serving the principal business centers of Canada from Montreal, Quebec, to Vancouver, British Columbia, and the U.S. Northeast and Midwest regions. As of Dec 31 2016, Co. operated on a network of approximately 12,400 miles of track, of which CP owns 10,800 miles and has access to 1,600 miles under trackage rights and lease agreements. Of the total mileage operated, about 5,600 miles were located in western Canada, 2,000 miles in eastern Canada, 4,400 miles in the U.S. Midwest and 400 miles in the U.S. Northeast.
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