AP NEWS

W&T: 4Q Earnings Snapshot

March 4, 2020 GMT

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.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WTI at https://www.zacks.com/ap/WTI