US producers, service firms post improved first quarter results

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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