W&T Offshore (NYSE: WTI) is expected to report Q3 earnings on Oct. 30. Here's what Wall Street wants to see:

The 10-second takeaway
 Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict W&T Offshore's revenues will drop -20.4% and EPS will drop -64.3%.

The average estimate for revenue is $195.2 million. On the bottom line, the average EPS estimate is $0.20.

Revenue details
 Last quarter, W&T Offshore logged revenue of $215.5 million. GAAP reported sales were 15% lower than the prior-year quarter's $252.9 million.

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

EPS details
 Last quarter, non-GAAP EPS came in at $0.28. GAAP EPS of $0.70 for Q2 were 4.1% lower than the prior-year quarter's $0.73 per share.

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

Recent performance
 For the preceding quarter, gross margin was 69.5%, 950 basis points worse than the prior-year quarter. Operating margin was 46.0%, 30 basis points better than the prior-year quarter. Net margin was 24.9%, 310 basis points better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $879.0 million. The average EPS estimate is $1.24.

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 $23.00.

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