Ultra Petroleum Q2 Net Profit Slides - Quick Facts

(RTTNews) - Ultra Petroleum Corp.'s (UPL) second-quarter net income decreased to $106.05 million, or $0.68 per share, from $116.38 million, or $0.75 per share, last year.

On the other hand, the company reported adjusted net income of $81.2 million, or $0.52 per share for the second quarter of 2014. On average, 21 analysts polled by Thomson Reuters expected the company to report profit per share of $0.53 for the quarter. Analysts' estimates typically exclude special items.

Year-over-year total operating revenues grew to $296.06 million from $261.38 million, while 13 analysts expected revenue of $275.56 million for the quarter. For the second quarter of 2014, production of natural gas and oil was 58.5 billion cubic feet equivalent or Bcfe. This takes into account unforeseen pipeline disruptions resulting in 1.1 Bcfe of deferred production