El Paso Corp. (EP: Quote) reported a surge in its fourth-quarter 2011 net income attributable to EPC common stockholders to $185 million, or $0.24 per share from $62 million, or $0.09 per share a year earlier.
Adjusting for impacts of E&P financial derivatives and other items, quarterly adjusted earnings per share were $0.28, a 40 percent increase from $0.20 in the prior-year quarter. On average, 11 analysts polled by Thomson Reuters expected earnings per share of $0.29 for the quarter. Analysts' estimates typically exclude one-time items.
E&P production volumes for the latest quarter went up 11 percent from last year, averaging 880 million cubic feet equivalent per day or MMcfe/d, including 59 MMcfe/d of Four Star unconsolidated affiliate volumes.
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by RTT Staff Writer
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