The 10-second takeaway
For the quarter ended March 31 (Q1), W&T Offshore missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue grew and GAAP earnings per share dropped significantly.
Gross margins expanded, operating margins shrank, net margins dropped.
W&T Offshore tallied revenue of $235.9 million. The three analysts polled by S&P Capital IQ expected a top line of $244.6 million on the same basis. GAAP reported sales were 12% higher than the prior-year quarter's $210.9 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.40. The eight earnings estimates compiled by S&P Capital IQ averaged $0.47 per share. GAAP EPS of $0.04 for Q1 were 84% lower than the prior-year quarter's $0.25 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 73.6%, 70 basis points better than the prior-year quarter. Operating margin was 6.7%, 1,110 basis points worse than the prior-year quarter. Net margin was 1.4%, 740 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $228.0 million. On the bottom line, the average EPS estimate is $0.38.
Next year's average estimate for revenue is $978.8 million. The average EPS estimate is $1.77.
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 $24.11.
How did W&T Offshore treat you during the oil spike in 2008 and the subsequent bust? More importantly, what are you doing to prepare for the next spike that some experts believe another spike may be just around the corner? Prepare yourself with a well-positioned energy stock we profile in "The Only Energy Stock You'll Ever Need." Click here for instant access to this free report.
- Add W&T Offshore to My Watchlist.