W&T Offshore (NYSE: WTI) reported earnings on Oct. 30. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended Sep. 30 (Q3), W&T Offshore beat slightly on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue shrank significantly and GAAP earnings per share shrank to a loss.

Margins dropped across the board.

Revenue details
 W&T Offshore reported revenue of $185.9 million. The six analysts polled by S&P Capital IQ expected revenue of $183.7 million on the same basis. GAAP reported sales were 24% lower than the prior-year quarter's $245.4 million.

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

EPS details
 EPS came in at $0.19. The eight earnings estimates compiled by S&P Capital IQ anticipated $0.17 per share. GAAP EPS were -$0.02 for Q3 against $0.70 per share for the prior-year quarter.

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 69.0%, 440 basis points worse than the prior-year quarter. Operating margin was 4.1%, 3,490 basis points worse than the prior-year quarter. Net margin was -0.8%, 2,240 basis points worse than the prior-year quarter.

Looking ahead
 Next quarter's average estimate for revenue is $238.9 million. On the bottom line, the average EPS estimate is $0.33.

Next year's average estimate for revenue is $876.2 million. The average EPS estimate is $1.21.

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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