Canadian Pacific Railway Limited has achieved a 17% higher first quarter net income of CAD 254 million (USD 230.34 million), versus USD 217 million a year earlier.
Total revenues were USD 1,509 million, an increase of 1%. Freight revenue was up to CAD1,474 million compared to CAD1,459 million.
Operating expenses were USD 1,086 million, down 4%. Operating income stood at USD 423 million, up 17%.
Chief executive officer E. Hunter Harrison said in a company statement"CP delivered solid results in a period that was severely impacted by extraordinary cold and severe winter weather conditions."
"Despite a slow start to the year and the reduced capacity which limited our ability to meet strong customer demand, we still have the utmost confidence in our ability to achieve our financial targets for 2014."