Execution of Petro-Canada's Strategy Delivers Another Solid Quarter

25.10.08 - 06:00 ... source : Petro-Canada

... Oct. 23, 2008 CALGARY, ALBERTA--(Marketwire - Oct. 23, 2008) - Highlights Robust cash flow, a strong balance sheet and liquidity provide financial stability in a turbulent market Reliable upstream operations deliver strong production in line with guidance Construction of the Edmonton refinery conversion project (RCP) completed and refinery on track for fourth quarter 2008 startup Petro-Canada announced today third quarter operating earnings of $1,242 million ($2.56/share), up 97% from $630 million ($1.29/share) in the third quarter of 2007. Third quarter 2008 cash flow from operating activities before changes in non-cash working capital was $2,116 million ($4.37/share), up 72% from $1,229 million ($2.52/share) in the same quarter of last year. Net earnings were $1,251 million ($2.58/share) in the third quarter of 2008, compared with $776 million ($1.59/share) in the same quarter of 2007. "Our businesses ...» Next (HTML)