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Compared to Estimates, W&T (WTI) Q3 Earnings: A Look at Key Metrics
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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.
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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Compared to Estimates, W&T (WTI) Q3 Earnings: A Look at Key Metrics
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.