Canadian Pacific Railway Ltd. says it will meet its financial targets two years early and has set an ambitious new set of goals for 2018, including more than doubling its earnings per share. Besides doubling its diluted earnings per share between 2014 and 2018, the railway also intends to grow annual revenue to USD 10-Billion (EUR 7 Billion), up from just over USD 6-Billion (EUR 4.2 Billion) in 2013, declared the company’s CEO Hunter Harrison. Mr. Harrison said the company will achieve its 2016 targets this year. The announcement marks a key shift in Mr. Harrison’s strategy. After a couple of years of cost-cutting, including more than 4,000 layoffs, the railway is turning its focus to revenue and profit growth. The railway has received a boost from stronger shipments of commodities like grain, coal and crude oil, as well as increased intermodal traffic, which involves more than one mode of transportation.
Source: business.financialpost.com
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