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

As crises become more complex prevention must be at the centre of

“The perils of nuclear weapons are again front and centre, with tensions higher than they have been since the end of the Cold War,” the Secretary General told an open debate of the Security Council.At the same time, he outlined threats emanating from the impact of climate change, transnational crime, protracted conflicts, frustration and marginalization fuelled by inequality, as well as the challenges from cyberspace.“Cybersecurity dangers are escalating, as some of the same advances in technology that have generated so many gains have also made it easier for extremists to communicate, broadcast distorted narratives of grievance, recruit followers and exploit people,” he added.In his remarks, Mr. Guterres underlined that addressing these challenges requires more coherent, coordinated and context-specific efforts on the part of the international community.Where women are empowered, societies flourish and peace processes have a better chance of taking holdSecretary-General GuterresPrevention of conflict also has to be the focus of all initiatives, he noted, stressing: “It avoids tragic human suffering and it even saves money.”Though hard to quantify and typically undertaken far from the media spotlight, “prevention is a sound investment that brings ample, visible dividends.” Moreover, the role of women in peacebuilding is crucial to the success of sustaining peace agenda.“We also know that gender equality is closely linked with resilience […] where women are empowered, societies flourish and peace processes have a better chance of taking hold,” stressed the UN chief.In addition, he also noted the need to include preventive diplomacy – efforts to respond promptly to signs of tension and to forge political solutions – in prevention efforts.Concluding his remarks, Mr. Guterres also called for unity within the Security Council.“Without [unity], the parties to conflict may take more inflexible and intransigent positions, and the drivers of conflict will push situations to the point of no return, again and again,” he said, adding: “But with unity, we can advance security and well-being for all.” Secretary-General António Guterres delivers remarks at the Security Council meeting on addressing the complex contemporary challenges to international peace and security. UN Photo/Mark Garten read more

Irish team set to take Le Mans 24 hour race by storm

first_imgGREG MURPHY WAS bitten by the motor racing bug from an early age.His dad Pat used to race for fun at Mondello Park and, like most kids his age, Murphy wanted to follow in his footsteps.Sadly, aged just 44, Pat Murphy died of a heart attack during a day out at the Co. Kildare venue.“When you’re that young, it’s difficult to understand what’s going on,” says Greg Murphy, “but my dad died doing what he loves.”Murphy, who was nine at the time, took a break from motor racing for a decade before returning to the sport.“I suppose it was always a passion and when I hit 19 or 20, I just thought I’d give it a proper go.”Murphy’s love of the the sport was matched only by his talent and he enjoyed a successful career in Formula 3 in Asia where he raced for Minardi.Life though, once again, moved his career in a different direction and he soon found himself as Team Principal of his own endurance motor racing team.YouTube: MurphyPrototypesMoney would last longer if you burned it“As happens, I met a girl and settled down so racing wasn’t really an option any more.”Running a team is a different challenge but that doesn’t mean it’s any less exciting than driving.“It’s more difficult than driving if I’m honest. You’re not relying on just yourself any more.“Instead, you’ve to put your trust in a team and establish a reputation. That helps attracts sponsors and cash is everything in this sport.”Money is something that keeps cropping up in our conversation and it’s no surprise. Motor racing is not cheap.“To be honest, the money would last longer if you burned it,” laughs Murphy but he’s also aware of how ridiculous the figures involved are. “There are people starving in the world and here I am talking about crazy money but that’s racing. I mean, you have drivers raising €30 million in sponsorship just to race for a Formula One team.”Greg Murphy (left) with driver Mark Patterson.Image: Murphy PrototypesMurphy Prototypes aren’t at that level of expenditure yet but it will still cost the team €750,000 to race at Le Mans. When you consider they change the tyres and refill their fuel every 45 minutes though, as well as bring a support team of 45 people, the costs soon add up.“We couldn’t run the team without the support we get from our sponsors like Hertz and STP because it’s a real financial and engineering challenge to run these prototype cars.”The hard work paid off in 2012 when Murphy Prototypes became the first Irish owned team to compete in the European Le Mans endurance motorracing series as well as the Le Mans 24 Hour raceThe Murphy Prototypes car in action at Imola.Image: Murphy PrototypesThe most prestigious endurance race in the worldIt was a baptism of fire for the team, qualifying 19th in their Oreca 03-Nissan they actually led the LMP2 category of the race for a number of hours before having to drop out after 196 laps.This year, Murphy is confident of doing even better. Not only do they have GT driver Mark Patterson at the wheel, but he’ll also be joined by Formula One test driver Brendon Hartley and Lotus Formula One driver Karun Chandhok.“It’s not going to be easy but I’m certainly going in more with expectation than hope.“We’re ranked quite highly in our category and I have to admit I’m quite excited about the race, especially with the drivers we have on board,” he says.There’s no doubting Le Mans is a long way from Mondello or even Formula 3; on the day of the race, 300,000 people are expected to pack into the track and the race will be broadcast into 600 million homes around the world.However, in Murphy’s voice you can still hear the enthusiasm and passion for the sport that started all those years ago at the Co. Kildare track.Beer for breakfast and 7 more steps to the perfect Lions-watching partyDid an Irishman just produce the greatest finish in the history of motor racing?last_img read more