CPKC boosts Q3 profits despite summer shutdown

Canadian Pacific Kansas City Ltd. CP-T is reporting a jump in profits and sales during its latest quarter, despite a labour disruption that forced the railway to wind down operations over a two-week stretch last August.

The Calgary-based company says net income climbed seven per cent to $837 million in the three months ended Sept. 30 from $780 million in the same period the year before.

It says third-quarter revenues rose six per cent to $3.55 billion from $3.34 billion a year earlier.

Diluted earnings increased to 90 cents per share from 84 cents per share.

CEO Keith Creel says temporary headwinds buffeted the railway over the past few months, but that it delivered a strong performance across its network.

CPKC and rival Canadian National Railway Co. CNR-T grappled with wildfires and a countrywide work stoppage over the summer as well as a B.C. grain workers strike last month.