Murphy Oil Q1 Profit Decreases, But Beats Estimates

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

The company's bottom line totaled $73.04 million, or $0.50 per share. This compares with $90.00 million, or $0.59 per share, last year.

Excluding items, Murphy Oil reported adjusted earnings of $80.7 million or $0.56 per share for the period.

Analysts on average had expected the company to earn $0.49 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 16.4% to $665.71 million from $796.41 million last year.

Murphy Oil earnings at a glance (GAAP) :

-Earnings: $73.04 Mln. vs. $90.00 Mln. last year. -EPS: $0.50 vs. $0.59 last year. -Revenue: $665.71 Mln vs. $796.41 Mln last year.