Murphy Oil Q3 Profit Increases, beats estimates

(RTTNews) - Murphy Oil (MUR) announced earnings for its third quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $528.43 million, or $3.36 per share. This compares with $108.46 million, or $0.70 per share, in last year's third quarter.

Excluding items, Murphy Oil reported adjusted earnings of $289.7 million or $1.84 per share for the period.

Analysts on average had expected the company to earn $1.61 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 106.1% to $1.30 billion from $630.70 million last year.

Murphy Oil earnings at a glance (GAAP) :

-Earnings (Q3): $528.43 Mln. vs. $108.46 Mln. last year. -EPS (Q3): $3.36 vs. $0.70 last year. -Analyst Estimate: $1.61 -Revenue (Q3): $1.30 Bln vs. $630.70 Mln last year.