Unit Corp. (UNT) Misses Q3 EPS by 14c, Revenues Miss

Unit Corp. (NYSE: UNT) reported Q3 EPS of ($0.30), $0.14 worse than the analyst estimate of ($0.16). Revenue for the quarter came in at $155.44 million versus the consensus estimate of $166.69 million.

Larry Pinkston, Chief Executive Officer and President, said: “The quarter's early focus was on completion activities for wells drilled in the prior quarter. The increase in oil production during the quarter resulted from the new Redfork and Marchand wells which met or exceeded our expectations. While third quarter production resulted in a significant increase over the second quarter, we anticipate annual production to be in line with our projection of approximately 17.0 MMBoe as we continue to have no rigs currently running for this segment."

For earnings history and earnings-related data on Unit Corp. (UNT) click here.

You May Also Be Interested In

• Nomura/Instinet Upgrades Genting Singapore (GENS:SP) (GIGNY) to Neutral
• Birchtech Corp. (BCHT) Misses Q2 EPS by 7c
• Eledon Pharmaceuticals, Inc. (ELDN) Misses Q2 EPS by 12c