XTO Energy 3Q Profit Slips

XTO Energy Inc. said its third-quarter earnings fell 4 percent, but the oil and natural gas producer raised its full-year production outlook.
Earnings for the three months ended Sept. 30 dropped to $500 million, or 86 cents per share, from $521 million, or 94 cents per share, during the same period last year. Quarterly earnings were hurt in part by higher depreciation, depletion and amortization expenses, more than offsetting an increase in revenue, the company said in a statement.
Revenue climbed 8 percent to $2.29 billion from $2.13 billion.
  



Was this article helpful?

Related Articles

Leave A Comment?