The oil industry'sdownplaying of huge profits in Q1 conference calls
When the economy is growing and your industry is thriving, quarterly earnings season is frequently a happy time for top executives and their IR teams. Wordsmiths can use the earnings releases to spin tales of dedication to execution and commitment to shareholder value. The conference calls, replete with huzzahs from analysts – ‘Great quarter, guys!’ – are a genial victory lap. Negatives are swept under the rug like so many dust balls. It didn’t quite work out that
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