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2Q_2008_Earnings_FINAL_(Web)
El Paso Corporation reported financial results for the second quarter of 2008. Earnings per share increased to $0.39 compared to $0.29 in the second quarter of 2007, driven by higher natural gas prices and lower interest expense. Adjusted EBITDA was $865 million compared to $819 million in the prior year. However, challenges in 2008 include issues with project execution, cost control, and acquisition integration. For the full year 2008, the company expects earnings per share to be between $1.40-$1.50, capital expenditures to be $3.8 billion, and adjusted EBITDA to be $3.8-$3.9 billion.
