El Paso numbers on the rise
US gas producer and pipeline player El Paso Corporation posted a higher
first-quarter operating profit today, adding it expects full-year earnings
to be sharply higher than previously forecast on stronger oil and natural
gas prices.
It said its operating profit rose to 33 cents a share from 18 cents a share
last year.
Net profit in the quarter dropped from last year, when the company recorded a
$677 million gain from the sale of its ANR pipeline. It fell to $200
million, or 29 cents per diluted share, from $620 million, or 89 cents per
diluted share last year.
The company said it expects sharply higher full-year earnings than its
previous estimate of $1 to $1.10 a share.
08 May 2008 12:04 GMT
| last updated:
08 May 2008 12:24 GMT
Latest jobs
