TULSA, Okla. (AP) _ Unit Corp. (UNT) on Thursday reported a first-quarter loss of $3.5 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Tulsa, Oklahoma-based company said it had a loss of 7 cents. Earnings, adjusted for non-recurring costs, came to 9 cents per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 17 cents per share.
The oil and natural gas contract drilling company posted revenue of $189.7 million in the period.
Unit shares have fallen 7% since the beginning of the year. The stock has decreased 40% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on UNT at https://www.zacks.com/ap/UNT