Canadian Railroads See Gains in First-Quarter 2014, Despite Winter's Fury

SUGAR LAND--April 24, 2014--Researched by Industrial Info Resources (Sugar Land, Texas)--Canada's two major freight rail companies reported gains in first-quarter net earnings from the same quarter last year, despite the impact of an unusually adverse winter. Canadian Pacific Railway (NYSE:CP) (Calgary, Alberta) reported its net income rose 16% to a first-quarter record of C$254 million (US$230 million) from the same quarter last year. Canadian National Railway (NYSE:CNI) (Montreal, Quebec), meanwhile, said its net earnings rose 12% to C$623 million (US$564.65 million) from the year-earlier quarter. Industrial Info is tracking more than $2.5 billion in Canadian Pacific Railway projects and nearly $1.4 billion in Canadian National Railway projects.