AP NEWS

Unit: 3Q Earnings Snapshot

November 8, 2019

TULSA, Okla. (AP) _ Unit Corp. (UNT) on Friday reported a third-quarter loss of $206.9 million, after reporting a profit in the same period a year earlier.

The Tulsa, Oklahoma-based company said it had a loss of $3.91 per share. Losses, adjusted for asset impairment costs and non-recurring costs, came to 30 cents per share.

The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 24 cents per share.

The oil and natural gas contract drilling company posted revenue of $155.4 million in the period.

The company’s shares closed at $2. A year ago, they were trading at $25.68.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on UNT at https://www.zacks.com/ap/UNT