Superior Energy Services Q2 Profit Plunges

(RTTNews) - Superior Energy Services Inc. (SPN) Thursday reported second-quarter net income of $68.6 million or $0.43 per share, compared to $141.9 million or $0.89 per share a year ago.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.45 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter dropped to $1.16 billion from $1.24 billion a year ago. Analysts estimated revenues revenues of $1.18 billion for the quarter.

Looking forward, the company narrowed its earnings guidance for 2013 to a range of $1.75 to $1.95, from prior estimate of $1.85 to $2.35 per share. Analysts currently estimate earnings of $2.01 per share for the year.