Canadian Pacific Railway Q1 2024 Adj EPS CAD$0.93 Misses CAD$0.94 Estimate, Sales CAD$3.52B Miss CAD$3.54B Estimate
Portfolio Pulse from Benzinga Newsdesk
Canadian Pacific Railway (NYSE:CP) reported Q1 2024 adjusted EPS of CAD$0.93, missing the CAD$0.94 estimate, and sales of CAD$3.52B, slightly below the CAD$3.54B estimate. Despite the miss, this represents a 110.02% increase in sales compared to the same period last year.
April 24, 2024 | 1:03 pm
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NEUTRAL IMPACT
Canadian Pacific Railway reported a slight miss in Q1 2024 earnings and sales, but showed a significant year-over-year sales growth.
While CP missed analyst estimates for both earnings per share and sales, the impact on the stock price is likely to be neutral in the short term. The miss was minimal, and the substantial year-over-year sales growth of 110.02% could offset concerns about the earnings miss. Investors might view the sales growth as a positive sign of the company's operational strength and future potential.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100