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Par Petroleum: 1Q Earnings Snapshot

HOUSTON (AP) _ Par Petroleum Corp. (PARR) on Tuesday reported first-quarter profit of $61.1 million.

On a per-share basis, the Houston-based company said it had net income of $1.14. Earnings, adjusted for one-time gains and costs, came to 13 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was breakeven on a per-share basis.

The independent oil and gas company posted revenue of $1.19 billion in the period.

Par Petroleum shares have increased 39% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $19.67, an increase of 11% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PARR at https://www.zacks.com/ap/PARR