US producers, service firms post improved first quarter results

05/24/2004
Marilyn Radler, Economics EditorLaura Bell, Statistics EditorIncreased production and higher oil and natural gas prices improved the first quarter earnings of most US producing companies in a sample of firms. Refining margins also improved for some companies, and foreign currency exchange rates helped to lift net income.The integrated and independent oil and gas producing companies in Table 1 collectively posted a 2.4% gain in earnings on revenues that were 8.5% higher than in first quarter 2003. The service and supply firms earned 12% more than a year ago and reported revenues up 27% (Table 2). Click here to enlarge imageCollectively, the Canadian firms in the sample announced slightly ...
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