Earnings ease for Canadian companies in wake of lower prices

Canadian oil and gas firms announced mixed year-on-year third quarter results. Softening commodity prices and refining margins hit the bottom lines of some Canadian firms during the third quarter. A sampling of earnings comparisons shows a 14% decline in profits on a 1% increase in revenues for the period. For the first 9 months, results remain strong, reflecting the higher natural gas prices from the first half of the year: revenues are up 26% and earnings are up 22% compared with the first three quarters of last year. Click here to enlarge imageAll results reported are in Canadian dollars, and all companies mentioned are headquartered in Calgary, unless otherwise noted.Company resultsI...

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