UPDATE 1-Sunoco in Q3 loss on refining squeeze, shares down - News

Runway Angels
The superbowl of fashion shows, models walk down the runway at the 2009 Victoria's Secret Show.
Smartphone Guide
Here's a need-to-know guide to nine devices, based on features, price, network and platform.
Wines for the Holidays
Not quite sure what wine to pair with Turkey or Creme Brulee? Our experts do.

FEATURED QUIZZES

A Healthier & Wealthier You
Take the following quiz and find out how much you know about the impact of obesity on the health of the U.S. economy.
The Billionaire BFF's
Philanthropists. Bridge partners. Hockey players. Which responses are based on facts from Buffett's and Gates' real lives?
The Many Myths of Coca-Cola
Can you tell which statements are true, and which ones are just rumors?

SPECIAL REPORTS

Winterizing Your Portfolio
If 2009 was the winter of our discontent, will 2010 be a winter wonderland for investors? A lot depends on the recovery—or lack thereof.
Investor's Guide to Real Estate
Some even say the long-awaited recovery is here. Regardless, buyers and sellers alike can profit from our guide.
Alternative Investing
Stocks and bonds? Sure. But it's a big world out there for investors.

CNBC ON DIGG

UPDATE 1-Sunoco in Q3 loss on refining squeeze, shares down

By: AFX | 05 Nov 2009 | 04:44 PM ET

Text Size

SAN FRANCISCO, Nov 5 (Reuters) - Sunoco Inc reported a quarterly loss on Thursday compared with a year-earlier profit as rising oil prices and weak demand for gasoline and diesel squeezed the refiner's margins. Shares of Sunoco fell about 1 percent in after-hours trading, after closing 2.4 percent higher at $31.42. The Philadelphia-based company reported a third-quarter net loss of $312 million, or $2.67 per share, compared with a year-ago profit of $549 million, or $4.70 per share. Excluding one-time items, including a $278 million charge related to its idling of its Eagle Point refinery, Sunoco reported a loss of 29 cents per share. Wall Street analysts, on average, had expected a loss of 10 cents per share, according to Thomson Reuters I/B/E/S. Revenue fell 43 percent to $8.695 billion. (Reporting by Braden Reddall in San Francisco; Editing by Phil Berlowitz) Keywords: SUNOCO/ (braden.reddall@thomsonreuters.com; +1 415 677 2543; braden.reddall.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.

Tools: