Canadian Pacific Railway Limited has announced its first-quarter 2012 results with reported net income of $142 million, an increase of $108 million, or 318%, from the same period in 2011, and diluted earnings per share of $0.82, an increase of $0.62, or 310%, from the same period in 2011.

Total revenues were $1.4 billion, an increase of $213 million.

Fred Green, President & Chief Executive Officer, said:

“Our record operating metrics are driving enhanced financial results, as evidenced by a strong first quarter performance. By aggressively executing on the Multi-Year Plan, CP delivered an increase in revenues of $213 million and an improvement in operating ratio of 1,050 bps during the quarter.

“We have improved operating momentum, we are delivering excellent service and we have a stronger, more resilient rail network.

“This quarter, we generated an 18% year-over-year increase in freight revenues.

“Looking ahead, we are confident we can continue to deliver improvements in our operating metrics and financial performance and further growth in shareholder value.”