Encana's operating profit falls 31 pct

Thu Jul 24, 2014 6:08am EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

July 24 (Reuters) - Encana Corp, Canada's largest natural-gas producer, said its operating profit fell 31 percent in the second quarter, hurt by lower gas production and prices.

Operating profit, which excludes one-time items, fell to $171 million, or 23 cents per share, in the quarter ended June 30, from $247 million, or 34 cents per share, a year earlier.

The company, which is restructuring its operations to end its reliance on low-value natural gas, said net income attributable to common shareholders fell to $271 million from $730 million. (Reporting by Nia Williams in Calgary and Ashutosh Pandey in Bangalore; Editing by Savio D'Souza)