Sunoco 3Q earnings $216M vs year-ago $351M; weak margins hit refining/supply biz |
|
|
|
Published
:
Wed, 31 Oct 2007 21:57
|
NEW YORK (Thomson Financial) - Sunoco Inc. Wednesday reported third-quarter earnings of $216 million, or $1.81 a share, down from a year-ago profit of $351 million, or $2.76 a share.Revenue totaled $11.5 billion in the quarter, up from $10.5 billion a year earlier.The mean estimate of analysts polled by Thomson Financial was for a profit of $2.14 a share in the September period.Sunoco said its refining and supply business saw earnings drop to $171 million from $273 million a year ago because of lower realized margins and higher refinery expenses. It attributed the lower margins to 'the end-of-driving-season decline in gasoline demand and the sharp increase in crude oil prices during the quarter.'Shares of the Philadelphia-based oil and gas company closed at $73.60.Michael BaronmbCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
|
|
|
|
|
|
|
| Stock
Quotes * |
|
NASDAQ
|
|
1449.80 |
+51.73 (
3.63 %)
|
| SYMBOL (
2008-12-02 ) |
| LAST |
CHANGE
|
|
CARNIVAL
(
11:35am )
|
|
1347.00 |
+51.00 (
4.02 %)
|
| SYMBOL (
2008-12-02 )
|
| LAST |
CHANGE
|
|
IBM
(
4:01pm ) |
|
79.84 |
+2.94 (
3.78 %)
|
| SYMBOL (
2008-12-02 )
|
| LAST |
CHANGE
|
|
GOOGLE
(
4:00pm ) |
|
275.11 |
+9.12 (
3.37 %)
|
|
|
Print this Story
Murphy 3Q profit drops on weak refining 