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Yesterday, Canadian Pacific announced it's projecting that first-quarter diluted earnings per share (EPS) will range from 80 cents to 83 cents (in Canadian currency), exceeding 2011 diluted EPS by about 300 percent.

Quarterly results also will show that the Class I delivered record operating performance metrics, CP officials said in a prepared statement. Train speed is expected to have improved 27 percent; cars online are forecasted to have dropped 28 percent; terminal dwell time is projected to have declined 27 percent to a new record; and miles per car per day are anticipated to have improved 51 percent to a new record compared with first-quarter 2011 figures.

The Class I has been registering year-over-year growth in grain, coal and industrial and consumer products traffic, particularly energy, CP officials said. Automotive and intermodal volumes continue to strengthen as the railroad builds on its customer relationships and strong service metrics, they said.

“The CP team is delivering both revenue growth and operational performance,” said CP President and Chief Executive Officer Fred Green. “The record operating metrics are now driving improved financial results.”

CP plans to release its first-quarter financial and operating results on April 20.