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Article: Sunoco, UDS Report Outstanding Earnings.(Brief Article)(Statistical Data Included)
- Article from:
- The Oil Daily
- Article date:
- July 28, 2000
- Author:
CopyrightCOPYRIGHT 2000 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Sunoco and Ultramar Diamond Shamrock (UDS) on Thursday joined other independent refining and marketing companies in reporting earnings that are above and beyond what they experienced at this time a year ago.
The two beat Wall Street expectations thanks in large part to the high refining margins that the companies, like the rest of the sector, enjoyed throughout the quarter.
* Sunoco: The company resoundingly beat analysts' expectations, reporting net income of $215 million ($2.44/share) on revenues of $3.6 billion, against second- quarter 1999 earnings of $26 million (28[cent]/share) on sales of $2.4 billion.
The earnings included after-tax ...