Unit Corp. Q1 Profit Tops View - Quick Facts

(RTTNews) - Unit Corp. (UNT) said net income for the first quarter increased to $56.95 million, or $1.17 per share from $40.21 million, or $0.83 per share for the first quarter of 2013.

Adjusted net income was $1.29 per share, while it totaled $0.92 per share last year. On average, six analysts polled by Thomson Reuters expected earnings of $1.14 per share. Analysts' estimates typically exclude special items.

Total revenues improved to $388.0 million from $318.5 million in the prior year. Analysts expected revenues of $392.97 million.

For the oil and natural gas segment, production for the quarter increased 5 percent over the first quarter of 2013 with oil and natural gas liquids production increasing from 40 percent to 45 percent of total equivalent production.