Canadian Pacific raises guidance after profits climb in the quarter

CALGARY — Canadian Pacific Railway Ltd. (TSX:CP) has revised upwards its 2017 guidance after seeing profits climb for another quarter.The Calgary-based company said Tuesday that net income for the third quarter came in at $510 million, or $3.50 per share, an increase of almost 50 per cent from the $347 million or $2.34 per share it pulled in a year ago.Revenue for the quarter ended Sept. 30 grew three per cent to $1.6 billion, while operating income was up five per cent to $690 million.The positive results prompted the company to revise its guidance and it now expects to see double-digit growth for the year, up from its earlier guidance of high single-digit growth.Company CEO Keith Creel said on an earnings call that the company’s performance was a result of the drive for further efficiencies in precision railroading, which he’ll continue doing.“I’m focused on the end product, which is earnings growth — quality, sustainable earnings growth,” said Creel.“Rest assured, I’ve got a book of opportunities in my bottom desk drawer and it just takes time to get to them.”Canadian Pacific says its operating ratio — a measure of efficiency that balances revenue with expenses — also improved, down by 100 basis points to 56.7 per cent compared with the third quarter of 2016.Edward Jones analyst Dan Sherman said the third-quarter results were solid, with adjusted third-quarter earnings of $2.90 coming in above the consensus expectation of $2.87.He said he maintains a buy rating on the company.“We believe that Canadian Pacific’s increased emphasis on marketing and continuing network improvements should accelerate the creation of value for shareholders.” read more

Burglars steal CCTV camera in victims home but footage of them caught

first_imgBurglars who stole a CCTV camera inadvertently captured themselves in the act of ransacking an elderly woman’s home.The two raiders were filmed on cameras that had been set up in the 83-year-old victim’s home.They tried to cover their tracks by stealing the equipment, but police were able to download the footage from a central database.Detectives have now released images of two men being sought over the raid that saw thieves break in by smashing open a key box at the front of the property before letting themselves in. They had told the woman they were from a gas company.One of the intruders was filmed in the kitchen of the property in Sheldon, Birmingham, at 11am on Monday. One of the intruders is caught on camera in the kitchen of the victim in Birmingham One of the intruders is caught on camera in the kitchen of the victim in BirminghamCredit:SWNS Want the best of The Telegraph direct to your email and WhatsApp? Sign up to our free twice-daily  Front Page newsletter and new  audio briefings. Birmingham CCTV raider “I’m concerned these individuals will seek out and target other vulnerable members of the community so identifying them is a priority.”We really need people to come forward if they recognise the men, so we can put a stop to what they’re doing.” Sergeant Tom Lyons, who is leading the investigation for West Midlands Police, said: “Two men forced their way into an elderly woman’s home, and that is quite simply unacceptable.”HD cameras installed inside the house recorded the incident and, although the callous thieves attempted to cover their tracks by stealing the equipment, officers were able to download and secure the footage from a central database. When they spotted the HD cameras, the raiders tried to cover their tracks by stealing them but the footage was already backed up to a central database.One of the burglars also tried to hide his face behind a black folder, but was clearly visible as he grabbed the camera. The second man tried to hide his face behind a folderCredit:SWNSlast_img read more