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W&T (WTI) Reports Q4 Earnings: What Key Metrics Have to Say
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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.
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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W&T (WTI) Reports Q4 Earnings: What Key Metrics Have to Say
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.