Just a year of so ago, Houston-based El Paso Corp. looked as if it was a prime candidate to be the city’s next big corporate reorganization.
That’s not the case anymore. Earlier this week, El Paso announced that it had earned a $141 million profit in the second quarter on revenue of $1.21 billion. The natural gas pipeline company had a net loss of $246 million (38 cents a share) on $1.17 in revenues during the second quarter last year.
Good job, El Paso.