W&T Offshore (NYSE: WTI) reported earnings on Feb. 23. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Dec. 31 (Q4), W&T Offshore beat expectations on revenues and crushed expectations on earnings per share.

Compared with the prior-year quarter, revenue expanded significantly and GAAP earnings per share grew significantly.

Margins improved across the board.

Revenue details
W&T Offshore tallied revenue of $261.9 million. The six analysts polled by S&P Capital IQ predicted a top line of $236.1 million on the same basis. GAAP reported sales were 40% higher than the prior-year quarter's $187.0 million.

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Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
Non-GAAP EPS came in at $0.69. The nine earnings estimates compiled by S&P Capital IQ forecast $0.42 per share on the same basis. GAAP EPS of $0.61 for Q4 were 118% higher than the prior-year quarter's $0.28 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 75.1%, 820 basis points better than the prior-year quarter. Operating margin was 30.9%, 1,820 basis points better than the prior-year quarter. Net margin was 17.6%, 660 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $234.9 million. On the bottom line, the average EPS estimate is $0.41.

Next year's average estimate for revenue is $958.1 million. The average EPS estimate is $1.71.

Investor sentiment
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on W&T Offshore is hold, with an average price target of $22.90.

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