Canadian Pacific Railway Ltd.’s second-quarter was better than expected as it worked to recover from huge backlogs and an unusually harsh winter.
Net income soared 48 percent to $371 million from $252 million a year earlier. Revenue climbed 12 percent to $1.68 billion. Freight revenue from Canadian grain operations rose to $252 million, up 32 percent from last year.
The revenue from moving one ton of Canadian grain one mile slipped to 3.56 cents from 3.61 cents.