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Article: Energen Reports 2002 Earnings of $2.03 Per Diluted Share; Company Raises Earnings Guidance for 2003.
- Article from:
- Business Wire
- Article date:
- January 29, 2003
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Energy Editors/Business Editors
BIRMINGHAM, Ala.--(BUSINESS WIRE)--Jan. 29, 2003
Energen Corporation (NYSE:EGN) today announced that it earned net income of $68.6 million, or $2.03 per diluted share, in 2002. This 10 percent increase over 2001 earnings per diluted share (EPS) largely reflects a 15 percent increase in the oil and gas production of Energen Resources Corporation, its oil and gas acquisition and exploitation company, and the impact of its utility, Alagasco, earning a higher rate of return on an increased level of equity. Energen's pre-tax cash flow per share increased 18 percent to $5.97 per diluted share.
Energen today also raised ...