Murphy Oil Q3 Profit Decreases, But Beats Estimates

Murphy Oil

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(RTTNews) - Murphy Oil (MUR) reported earnings for third quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $139.09 million, or $0.93 per share. This compares with $255.34 million, or $1.63 per share, in last year's third quarter.

Excluding items, Murphy Oil reported adjusted earnings of $110.7 million or $0.74 per share for the period.

Analysts on average had expected the company to earn $0.68 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 21.0% to $758.33 million from $959.65 million last year.

Murphy Oil earnings at a glance (GAAP) :

-Earnings (Q3): $139.09 Mln. vs. $255.34 Mln. last year. -EPS (Q3): $0.93 vs. $1.63 last year. -Revenue (Q3): $758.33 Mln vs. $959.65 Mln last year.