The impact is negative as CP’s adjusted EPS of $2.72 were below FCC and consensus estimates of $2.76. The 4Q15 earnings presentation notes that terminal dwell times are down by 19% y/y and network speed is up 18% y/y, showing that operations continue to improve. Due to a historic lack of carload growth in most segments, we have dramatically redefined our revenue growth expectations for CP over the next five years. Management guided towards FY2016 realizing an operating ratio sub 59%, double-dig ....
