For the quarter ended September 2023, W&T Offshore (WTI - Free Report) reported revenue of $142.41 million, down 46.6% over the same period last year. EPS came in at $0.01, compared to $0.33 in the year-ago quarter.
The reported revenue represents a surprise of +4.49% over the Zacks Consensus Estimate of $136.3 million. With the consensus EPS estimate being $0.04, the EPS surprise was -75.00%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how W&T performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Average daily equivalent sales per day: 35,900 Boe/d versus 35,432.48 Boe/d estimated by three analysts on average.
- NGLs ($/Bbl) - Average realized sales prices (before the impact of derivative settlements): $21.31 compared to the $27.99 average estimate based on three analysts.
- Natural gas ($/Mcf) - Average realized sales prices (before the impact of derivative settlements): $3.14 versus $2.71 estimated by three analysts on average.
- Oil ($/Bbl) - Average realized sales prices (before the impact of derivative settlements): $81.77 versus the three-analyst average estimate of $79.58.
- Net sales volumes - Oil: 1,227 MBBL compared to the 1,201.05 MBBL average estimate based on two analysts.
- Net sales volumes - NGLs: 348 MBBL compared to the 358.74 MBBL average estimate based on two analysts.
- Net sales volumes - Natural Gas: 10,359 MMcf versus 10,181.53 MMcf estimated by two analysts on average.
- Total revenues- Other: $2.15 million versus $2.20 million estimated by two analysts on average.
- Revenues- NGLs: $7.42 million versus the two-analyst average estimate of $9.46 million.
- Revenues- Natural gas: $32.52 million versus $27.01 million estimated by two analysts on average.
- Revenues- Oil: $100.33 million compared to the $94.78 million average estimate based on two analysts.
View all Key Company Metrics for W&T here>>>Shares of W&T have returned -5% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
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For the quarter ended September 2023, W&T Offshore (WTI - Free Report) reported revenue of $142.41 million, down 46.6% over the same period last year. EPS came in at $0.01, compared to $0.33 in the year-ago quarter.
The reported revenue represents a surprise of +4.49% over the Zacks Consensus Estimate of $136.3 million. With the consensus EPS estimate being $0.04, the EPS surprise was -75.00%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how W&T performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Average daily equivalent sales per day: 35,900 Boe/d versus 35,432.48 Boe/d estimated by three analysts on average.
- NGLs ($/Bbl) - Average realized sales prices (before the impact of derivative settlements): $21.31 compared to the $27.99 average estimate based on three analysts.
- Natural gas ($/Mcf) - Average realized sales prices (before the impact of derivative settlements): $3.14 versus $2.71 estimated by three analysts on average.
- Oil ($/Bbl) - Average realized sales prices (before the impact of derivative settlements): $81.77 versus the three-analyst average estimate of $79.58.
- Net sales volumes - Oil: 1,227 MBBL compared to the 1,201.05 MBBL average estimate based on two analysts.
- Net sales volumes - NGLs: 348 MBBL compared to the 358.74 MBBL average estimate based on two analysts.
- Net sales volumes - Natural Gas: 10,359 MMcf versus 10,181.53 MMcf estimated by two analysts on average.
- Total revenues- Other: $2.15 million versus $2.20 million estimated by two analysts on average.
- Revenues- NGLs: $7.42 million versus the two-analyst average estimate of $9.46 million.
- Revenues- Natural gas: $32.52 million versus $27.01 million estimated by two analysts on average.
- Revenues- Oil: $100.33 million compared to the $94.78 million average estimate based on two analysts.
View all Key Company Metrics for W&T here>>>Shares of W&T have returned -5% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
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