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Ackman-Backed CEO Pushes CP Rail Profit Above Estimates
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Canadian Pacific Railway Ltd. posted higher first-quarter earnings than analysts estimated as Chief Executive Officer Hunter Harrison makes progress on profitability goals set during last year’s proxy fight.
Net income rose 53 percent to C$217 million ($211.6 million), or C$1.24 a share, compared with the C$1.22 average of estimates in a Bloomberg survey. Revenue gained 8.6 percent to C$1.5 billion, the Calgary-based railroad said today.