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Strategies & Market Trends : Three Amigos Stock Thread
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To: LAWRENCE C. who wrote (19191)3/12/2000 5:16:00 AM
From: Ditchdigger  Read Replies (1) of 29382
 
Lawrence, one last comment on IP,,,interesting to note, their revenue actually increased in the 3rd Q due to energy prices..Since we can surmise IP's business' are energy intensive,,it's nice to know some of this cost(looking into how much) is actually offset by their own oil and gas exploration/production/joint veture/property leasing activities...from thier homepage
"Our PETROLEUM AND MINERALS division manages mineral resources on company land and develops oil and gas reserves in West Texas, the Gulf Coast and the Gulf of Mexico"
...
"Chemicals and Petroleum, which includes results from our approximately 68% owned
subsidiary, Bush Boake Allen, reported 1999 third-quarter net sales of $370
million which were slightly higher than the $360 million in the previous quarter
and even with the 1998 third-quarter. Operating profit of $38 million in the
current quarter is 36% higher than the previous quarter with all of the
businesses included in this segment showing an improvement. Earnings of our
Chemical businesses increased as a result of higher shipments of upgraded resins
and strong Asian demand. Results were further improved by an average increase of
27% in oil and gas prices and a 10% increase in demand for chemical specialty
pulp. Operating profit in the 1998 third-quarter was $34 million."

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