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Canadian Pacific Railway Limited Management Discusses Q2 2012 Results - Earnings Call Transcript

I do want to take a moment, if I could, this morning to -- there's a lot of you in the call that I have worked with for many years and had also worked close with me during this last 6 or 8 weeks to the proxy issue, and I appreciate the confidence that you've shown in this model that has been relatively successful, and I look forward to it, creating more success and more shareholder value at CP.

Last time, I think we've all agreed to turn the page, which we've done. This quarter's behind us. We return to, hopefully, normal times and focus on serving customers and controlling cost and creating shareholder value, and that's what this organization is equipped to do very well. So there's a lot of moving parts, but I'm sure you've seen the press release already and looked at, but as result, Jane and Kathryn and Michael are going to best explain further some of the issues that they had to deal with.

So with that, let me turn it over to Jane.

Jane A. O’Hagan

Thank you, Hunter, and good morning, everyone. Thanks, Hunter. Our strategy for sustained, profitable growth continues to deliver value. I'm pleased with our results, especially given the 9-day strike in the quarter. We quickly returned to pre-strike levels and protected our market share. Our market initiatives are delivering growth and value. Building on the successful execution of our scheduled service in Canadian grain this crop year , we're rolling out the program on our U.S. property, effective August 1. In Intermodal, we've recovered our market share in our core segments, and we're delivering on our strategic initiatives. And in Energy, our strategy has delivered 4 consecutive quarters of double-digit revenue growth. Continuous improvements in service are translating into a more valuable product for our customers, allowing us to secure full value for our services and drive profitable revenue growth.

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