W&T: Q4 Earnings Snapshot
HOUSTON (AP) _ W&T Offshore Inc. (WTI) on Wednesday reported a fourth-quarter loss of $8.9 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Houston-based company said it had a loss of 6 cents. Losses, adjusted for non-recurring costs, were 5 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 13 cents per share.
The independent oil and gas company posted revenue of $94.7 million in the period.
For the year, the company reported profit of $37.8 million, or 26 cents per share. Revenue was reported as $346.6 million.
In the final minutes of trading on Wednesday, the company’s shares hit $3.43. A year ago, they were trading at $2.51.