Sector Update: Industrials; CP Rail Q2 Earnings Beat Forecasts, Heroux-Devtek Renews Bell Helicopter Contract

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Industrial shares were mixed in afternoon trading, with the S&P/TSX Industrials index up 0.8%.

Canadian Pacific Railway (CP.TO): +2.5%

Canadian National Railway (CNR.TO): +0.7%


Heroux-Devtek (HRX.TO): -0.7%

Bombardier (BBD-B.TO): +0.5%

Air Canada (AC-B.TO): -1.4%

In company news, Canadian Pacific Railway Limited said net income in the second quarter was $371 million or $2.11 per diluted share, versus $252 million or $1.43 per share, in the second quarter of 2013. This represents a 48% year-over-year improvement in earnings per share and represents a one cent beat on forecasts. CP's key operating ratio was 65.1%, a 680 basis point improvement.

Meanwhile, Heroux-Devtek has renewed a manufacturing contract with Bell Helicopter for components and assemblies for several helicopter programs. The total value of the multi-year agreement could exceed $46 million.

The aerospace technology company said the contract calls for the manufacture of the main rotor hub and the tail rotor hub for the new Bell 505 Jet Ranger X, as well as for the 206B and 206L helicopter models. It will also manufacture tail rotor hubs, as well as other drive system components, for the 212, 407 and 412 aircraft.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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