For the quarter ended December 2023, W&T Offshore (WTI - Free Report) reported revenue of $132.34 million, down 30.2% over the same period last year. EPS came in at -$0.06, compared to $0.10 in the year-ago quarter.
The reported revenue represents a surprise of -6.72% over the Zacks Consensus Estimate of $141.87 million. With the consensus EPS estimate being $0.02, the EPS surprise was -400.00%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how W&T performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Average daily equivalent sales per day: 34,100 Boe/d versus the three-analyst average estimate of 36,024.47 Boe/d.
- NGLs ($/Bbl) - Average realized sales prices (before the impact of derivative settlements): $20.82 compared to the $21.68 average estimate based on three analysts.
- Oil ($/Bbl) - Average realized sales prices (before the impact of derivative settlements): $77.17 compared to the $79.87 average estimate based on three analysts.
- Natural gas ($/Mcf) - Average realized sales prices (before the impact of derivative settlements): $3.08 versus the three-analyst average estimate of $2.99.
- Net sales volumes - Oil: 1,219 MBBL versus the two-analyst average estimate of 1,244.65 MBBL.
- Total oil and natural gas: 3,302 MBoe versus the two-analyst average estimate of 3,315.54 MBoe.
- Net sales volumes - NGLs: 329 MBBL compared to the 349.24 MBBL average estimate based on two analysts.
- Net sales volumes - Natural Gas: 9,533 MMcf compared to the 10,329.39 MMcf average estimate based on two analysts.
- Total revenues- Other: $2.01 million versus $2.08 million estimated by two analysts on average.
- Revenues- NGLs: $6.85 million compared to the $7.71 million average estimate based on two analysts. The reported number represents a change of -28.1% year over year.
- Revenues- Natural gas: $29.40 million versus $29.20 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -55.7% change.
- Revenues- Oil: $94.08 million compared to the $99.82 million average estimate based on two analysts. The reported number represents a change of -15.8% year over year.
View all Key Company Metrics for W&T here>>>Shares of W&T have returned +3.6% over the past month versus the Zacks S&P 500 composite's +3.6% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.
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For the quarter ended December 2023, W&T Offshore (WTI - Free Report) reported revenue of $132.34 million, down 30.2% over the same period last year. EPS came in at -$0.06, compared to $0.10 in the year-ago quarter.
The reported revenue represents a surprise of -6.72% over the Zacks Consensus Estimate of $141.87 million. With the consensus EPS estimate being $0.02, the EPS surprise was -400.00%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how W&T performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Average daily equivalent sales per day: 34,100 Boe/d versus the three-analyst average estimate of 36,024.47 Boe/d.
- NGLs ($/Bbl) - Average realized sales prices (before the impact of derivative settlements): $20.82 compared to the $21.68 average estimate based on three analysts.
- Oil ($/Bbl) - Average realized sales prices (before the impact of derivative settlements): $77.17 compared to the $79.87 average estimate based on three analysts.
- Natural gas ($/Mcf) - Average realized sales prices (before the impact of derivative settlements): $3.08 versus the three-analyst average estimate of $2.99.
- Net sales volumes - Oil: 1,219 MBBL versus the two-analyst average estimate of 1,244.65 MBBL.
- Total oil and natural gas: 3,302 MBoe versus the two-analyst average estimate of 3,315.54 MBoe.
- Net sales volumes - NGLs: 329 MBBL compared to the 349.24 MBBL average estimate based on two analysts.
- Net sales volumes - Natural Gas: 9,533 MMcf compared to the 10,329.39 MMcf average estimate based on two analysts.
- Total revenues- Other: $2.01 million versus $2.08 million estimated by two analysts on average.
- Revenues- NGLs: $6.85 million compared to the $7.71 million average estimate based on two analysts. The reported number represents a change of -28.1% year over year.
- Revenues- Natural gas: $29.40 million versus $29.20 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -55.7% change.
- Revenues- Oil: $94.08 million compared to the $99.82 million average estimate based on two analysts. The reported number represents a change of -15.8% year over year.
View all Key Company Metrics for W&T here>>>Shares of W&T have returned +3.6% over the past month versus the Zacks S&P 500 composite's +3.6% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
See New Top 10 Stocks >>
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