THE WOODLANDS, Texas (AP) _ Apergy Corp. (APY) on Wednesday reported second-quarter profit of $23.8 million.
The The Woodlands, Texas-based company said it had profit of 31 cents per share. Earnings, adjusted for restructuring costs, were 35 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 34 cents per share.
The oil and gas drilling technology company posted revenue of $306.1 million in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $311.2 million.
For the current quarter ending in October, Apergy said it expects revenue in the range of $305 million to $315 million.
Apergy shares have increased 16% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $31.43, a decrease of 13% in the last 12 months.