W&T: 4Q Earnings Snapshot
HOUSTON (AP) _ W&T Offshore Inc. (WTI) on Wednesday reported fourth-quarter earnings of $9.6 million.
The Houston-based company said it had profit of 7 cents per share. Earnings, adjusted for non-recurring costs, were 17 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 1 cent per share.
The independent oil and gas company posted revenue of $151.9 million in the period.
For the year, the company reported profit of $74.1 million, or 52 cents per share. Revenue was reported as $534.9 million.
In the final minutes of trading on Wednesday, the company’s shares hit $2.41. A year ago, they were trading at $5.41.