Unit Corp. Profit Drops 97% In Q3

(RTTNews) - Unit Corp. (UNT) announced earnings for third quarter that lost ground compared to the same period last year.

The company said its earnings came in at $1.66 million, or $0.03 per share. This was down from $54.73 million, or $1.11 per share, in last year's third quarter.

Analysts had expected the company to earn -$0.28 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 47.0% to $212.39 million. This was down from $400.97 million last year.

Unit Corp. earnings at a glance:

-Earnings (Q3): $1.66 Mln. vs. $54.73 Mln. last year. -Earnings Decline (Y-o-Y): -97.0% -EPS (Q3): $0.03 vs. $1.11 last year. -EPS Decline (Y-o-Y): -97.3% -Analysts Estimate: -$0.28 -Revenue (Q3): $212.39 Mln vs. $400.97 Mln last year. -Revenue Change (Y-o-Y): -47.0%