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Article: Talisman Net Slumps on Lower Prices - Analyst Blog
- Article from:
- Zacks Investment Research - Analyst Blog
- Article date:
- November 10, 2009
- Author:
CopyrightCopyright 2009 Zacks Investment Research. (Hide copyright information)
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Talisman Net Slumps on Lower Prices - Analyst Blog
Canadian energy explorer
Talisman Energy Inc.
(
TLM
) reported marginally better-than-expected third quarter results, helped by in-line production volumes. Earnings per share from continuing operations, excluding one-time items came in at 15 Canadian cents (14 cents), a penny above the Zacks Consensus Estimate. However, on a year-over-year basis, Talisman’s adjusted earnings per share slumped approximately 77%, while revenues declined 42.3% to C$1.5 billion, hurt by lower prices of oil and natural gas.
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Volume Analysis
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Production during the quarter was down approximately 9.5% from the year-ago level to 401 ...