TULSA, Okla. (AP) _ Unit Corp. (UNT) on Thursday reported a fourth-quarter loss of $77.8 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 $1.49. Earnings, adjusted for one-time gains and costs, were 27 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share.
The oil and natural gas contract drilling company posted revenue of $214.8 million in the period.
For the year, the company reported a loss of $45.3 million, or 87 cents per share, swinging to a loss in the period. Revenue was reported as $843.3 million.
Unit shares have increased 21 percent since the beginning of the year. The stock has fallen 15 percent 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