Earnings up 65% for 22 Canadian companies in third quarter

12/12/2005
Among a sample of oil and gas producers, transporters, and service and supply firms based in Canada, most companies reported much stronger earnings in the third quarter of 2005 than they did in the comparable 2004 quarter, primarily due to the strength of oil and gas prices. One company in the group incurred a loss for the quarter, and four posted declines from a year earlier. Like their US-based counterparts, some of these firms were hurt by hurricanes in the Gulf of Mexico.Collectively, this sample of 22 Canadian companies posted a 65% increase in earnings during the third quarter of this year on 33% stronger revenues compared with the same period a year earlier. For the first 9 months ...
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