HOUSTON (AP) — HOUSTON (AP) — Murphy Oil Corp. (MUR) on Wednesday reported first-quarter earnings of $73 million.
On a per-share basis, the Houston-based company said it had net income of 50 cents. Earnings, adjusted for non-recurring costs and to account for discontinued operations, came to 56 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.
The oil and gas producer posted revenue of $665.7 million in the period, falling short of Street forecasts. Six analysts surveyed by Zacks expected $667.8 million.
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