Unit (UNTC) Interest Expense : $-0.2 Mil (TTM As of Mar. 2024)

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What is Unit Interest Expense?

Interest Expense is the amount reported by a company or individual as an expense for borrowed money. Unit's interest expense for the three months ended in Mar. 2024 was $ -0.0 Mil. Its interest expense for the trailing twelve months (TTM) ended in Mar. 2024 was $-0.2 Mil.

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income(EBIT) by its Interest Expense. Unit's Operating Income for the three months ended in Mar. 2024 was $ 20.6 Mil. Unit's Interest Expense for the three months ended in Mar. 2024 was $ -0.0 Mil. Unit's Interest Coverage for the quarter that ended in Mar. 2024 was 687.37. The higher the ratio, the stronger the company's financial strength is. Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Unit Interest Expense Historical Data

The historical data trend for Unit's Interest Expense can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Unit Interest Expense Chart

Unit Annual Data

Trend

Dec14

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Dec23

Interest Expense

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-37.01

-4.27

-0.45

-0.16

Unit Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Interest Expense	Get a 7-Day Free Trial															-0.04	-0.04	-0.04	-0.04	-0.03

Unit Interest Expense Calculation

Interest Expense is the amount reported by a company or individual as an expense for borrowed money.

Interest Expense for the trailing twelve months (TTM) ended in Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $-0.2 Mil.

Unit (OTCPK:UNTC) Interest Expense Explanation

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Unit's Interest Expense for the three months ended in Mar. 2024 was $-0.0 Mil. Its Operating Income for the three months ended in Mar. 2024 was $20.6 Mil. And its Long-Term Debt & Capital Lease Obligation for the three months ended in Mar. 2024 was $3.2 Mil.

Unit's Interest Coverage for the quarter that ended in Mar. 2024 is calculated as

Interest Coverage	=	-1	*	Operating Income (Q: Mar. 2024 )	/	Interest Expense (Q: Mar. 2024 )
	=	-1	*	20.621	/	-0.03
	=	687.37

The higher the ratio, the stronger the company's financial strength is.

Good Sign:

Ben Graham prefers companies' interest coverage to be at least 5. Unit Corp has enough cash to cover all of its debt. Its financial situation is stable.

Unit (UNTC) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Unit Corp (OTCPK:UNTC) » Definitions » Interest Expense

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Traded in Other Exchanges

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Address

8200 South Unit Drive, Tulsa, OK, USA, 74132

Website

https://www.unitcorp.com

Unit Corp is an oil and natural gas contract drilling company. The company is also in exploration and production and mid-stream areas. There are three segments which include Oil and Natural gas, Contract Drilling and Mid-stream. The oil and natural gas segment is engaged in the development, acquisition, and production of oil, NGLs, and natural gas properties. The contract drilling segment is engaged in the land contract drilling of oil and natural gas wells and the mid-stream segment is engaged in the buying, selling, gathering, processing, and treating of natural gas. Majority of revenue is generated from Oil and Natural Gas.

Executives

Micheal L Hicks	officer: President, Superior Pipeline	8200 S. UNIT DRIVE, TULSA OK 74132
Peyton G Bailey Iv	director	8200 S. UNIT DRIVE, TULSA OK 74132
George L Austin	officer: Sr. VP and CFO	C/O CYPRESS ENERGY PARTNERS, L.P., 5727 S LEWIS AVENUE, SUITE 500, TULSA OK 74105
David P Dunham	officer: Sr VP Business Development	8200 S. UNIT DRIVE, TULSA OK 74132
Frank Q Young	officer: Executive Vice President, UPC	8200 S. UNIT DRIVE, TULSA OK 74132
Carla S Mashinski	director	8200 S. UNIT DRIVE, TULSA OK 74132
Larry C Payne	director	8200 S. UNIT DRIVE, TULSA OK 74132
Don A Hayes	officer: Controller	8200 S. UNIT DRIVE, TULSA OK 74132
Steven B Hildebrand	director	8200 S. UNIT DRIVE, TULSA OK 74132
Brad Guidry	officer: Senior Vice President, UPC	8200 S. UNIT DRIVE, TULSA OK 74132
John Cromling	officer: Executive Vice President, UDC	8200 S. UNIT DRIVE, TULSA OK 74132
Robert Parks	officer: Manager, Superior Pipeline	8200 S. UNIT DRIVE, TULSA OK 74132
Sullivan Robert J Jr	director	8200 S. UNIT DRIVE, TULSA OK 74132
Gary R Christopher	director	8200 S. UNIT DRIVE, TULSA OK 74132
George Kaiser Family Foundation	10 percent owner	7030 SOUTH YALE AVENUE, SUITE 600, TULSA OK 74136