FX.co ★ Murphy Oil Q3 Profit Decreases, But Beats Estimates

Murphy Oil (MUR) disclosed its third-quarter earnings, which showed a decline compared to the same period last year but surpassed Wall Street projections.

The company reported a net income of $139.09 million, translating to an earnings per share (EPS) of $0.93. This compares to a net income of $255.34 million, or $1.63 per share, recorded in the third quarter of the previous year.

Excluding certain items, Murphy Oil's adjusted earnings stood at $110.7 million, or $0.74 per share for the quarter.

Analysts, on average, had anticipated earnings of $0.68 per share, as per data from Thomson Reuters. It's important to note that analysts' projections generally exclude special items.

The company's revenue for the quarter decreased by 21%, reaching $758.33 million, compared to $959.65 million in the same quarter last year.

Here's a summary of Murphy Oil's earnings using Generally Accepted Accounting Principles (GAAP):

- Earnings (Q3): $139.09 million, compared to $255.34 million last year.

- Earnings Per Share (EPS) (Q3): $0.93, compared to $1.63 last year.

- Revenue (Q3): $758.33 million, compared to $959.65 million last year.