Unit Corporation reported total revenues of $23.6 million for the third quarter of 2025, up from $21.3 million in the same period of 2024. Net income from continuing operations was $4.6 million, compared to $3.1 million in the prior year's quarter. Net income from discontinued operations was $2.3 million, down from $5.8 million in the third quarter of 2024. Overall net income for the quarter was $6.9 million, compared to $8.9 million a year earlier. For the nine months ended September 30, 2025, total revenues reached $77.6 million, up from $68.3 million in the same period of 2024. Net income from continuing operations increased to $31.6 million from $12.1 million, while net income from discontinued operations decreased to $15.4 million from $24.5 million. Total net income for the nine-month period was $46.9 million, compared to $36.6 million in 2024. During the quarter, Unit Corporation sold its wholly owned contract drilling subsidiary, Unit Drilling Company, to Cactus Drilling Company for $120 million in cash, subject to customary closing adjustments. The results of Unit Drilling Company have been classified as discontinued operations for all periods presented. The company expects that available tax attributes will substantially offset gains from this transaction.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Unit Corporation published the original content used to generate this news brief via Business Wire (Ref. ID: 20251106303923) on November 06, 2025, and is solely responsible for the information contained therein.
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