The 10-second takeaway
For the quarter ended Dec. 31 (Q4), W&T Offshore beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped. Non-GAAP earnings per share dropped significantly. GAAP earnings per share contracted significantly.
Margins shrank across the board.
W&T Offshore reported revenue of $237.1 million. The seven analysts polled by S&P Capital IQ anticipated a top line of $227.2 million on the same basis. GAAP reported sales were 9.5% lower than the prior-year quarter's $261.9 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 $0.26. The 11 earnings estimates compiled by S&P Capital IQ predicted $0.23 per share. Non-GAAP EPS of $0.26 for Q4 were 62% lower than the prior-year quarter's $0.69 per share. GAAP EPS of $0.21 for Q4 were 66% lower than the prior-year quarter's $0.61 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 71.6%, 350 basis points worse than the prior-year quarter. Operating margin was 19.7%, much worse than the prior-year quarter. Net margin was 7.0%, much worse than the prior-year quarter.
Next quarter's average estimate for revenue is $234.4 million. On the bottom line, the average EPS estimate is $0.26.
Next year's average estimate for revenue is $910.0 million. The average EPS estimate is $1.16.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on W&T Offshore is outperform, with an average price target of $22.38.
Can your portfolio provide you with enough income to last through retirement? You'll need more than W&T Offshore. Learn how to maximize your investment income and "Secure Your Future With 9 Rock-Solid Dividend Stocks." Click here for instant access to this free report.
- Add W&T Offshore to My Watchlist.