Murphy Oil Q1 Profit Decreases, but beats estimates

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

The company's bottom line totaled $90.00 million, or $0.59 per share. This compares with $191.64 million, or $1.22 per share, in last year's first quarter.

Excluding items, Murphy Oil reported adjusted earnings of $130.8 million or $0.85 per share for the period.

Analysts on average had expected the company to earn $0.82 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 5.4% to $796.41 million from $841.72 million last year.

Murphy Oil earnings at a glance (GAAP) :

-Earnings (Q1): $90.00 Mln. vs. $191.64 Mln. last year. -EPS (Q1): $0.59 vs. $1.22 last year. -Revenue (Q1): $796.41 Mln vs. $841.72 Mln last year.