Murphy Oil Q3 Profit Decreases, but beats estimates

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

The company's bottom line totaled $255.34 million, or $1.63 per share. This compares with $528.43 million, or $3.36 per share, in last year's third quarter.

Excluding items, Murphy Oil reported adjusted earnings of $249.3 million or $1.59 per share for the period.

Analysts on average had expected the company to earn $1.40 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 26.2% to $959.65 million from $1.30 billion last year.

Murphy Oil earnings at a glance (GAAP) :

-Earnings (Q3): $255.34 Mln. vs. $528.43 Mln. last year. -EPS (Q3): $1.63 vs. $3.36 last year. -Analyst Estimates: $1.40 -Revenue (Q3): $959.65 Mln vs. $1.30 Bln last year.