Encana operating profit falls on hedging losses
(Reuters) - EnCana Corp (ECA.TO), Canada's No.1 natural gas producer, reported a 25 percent fall in first-quarter operating profit due to hedging losses.
Encana's net operating income, which excludes most one-time items, fell to $179 million, or 24 cents per share, from $240 million, or 33 cents per share, a year earlier.
The company reported a first-quarter net loss of $431 million, compared with a profit of $12 million a year earlier.
(Reporting by Scott Haggett in Calgary and Bhaswati Mukhopadhyay in Bangalore; Editing by Supriya Kurane)
- Exclusive: Radar data suggests missing Malaysia plane deliberately flown way off course - sources
- Investigators focus on foul play behind missing plane: sources |
- Search for Malaysian plane may extend to Indian Ocean - U.S |
- Russia blocks internet sites of Putin critics
- Tire blows out on passenger jet taking off from Philadelphia airport