See more : Kadem Sustainable Impact Corporation (KSICW) Income Statement Analysis – Financial Results
Complete financial analysis of W&T Offshore, Inc. (WTI) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of W&T Offshore, Inc., a leading company in the Oil & Gas Exploration & Production industry within the Energy sector.
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W&T Offshore, Inc. (WTI)
About W&T Offshore, Inc.
W&T Offshore, Inc., an independent oil and natural gas producer, engages in the acquisition, exploration, and development of oil and natural gas properties in the Gulf of Mexico. The company sells crude oil, natural gas liquids, and natural gas. As of December 31, 2021, the company had working interests in 43 fields in federal and state waters; and under lease approximately 606,000 gross acres, including approximately 419,000 gross acres on the Gulf of Mexico Shelf, as well as approximately 187,000 gross acres in the Gulf of Mexico deepwater. W&T Offshore, Inc. was founded in 1983 and is headquartered in Houston, Texas.
| Metric | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 532.66M | 921.00M | 558.01M | 346.63M | 534.90M | 580.71M | 487.10M | 399.99M | 507.27M | 948.71M | 984.09M | 874.49M | 971.05M | 705.78M | 611.00M | 1.22B | 1.11B | 800.47M | 585.14M | 508.72M | 422.59M | 191.34M | 169.59M | 104.05M |
| Cost of Revenue | 283.93M | 393.17M | 141.37M | 141.23M | 176.97M | 174.07M | 177.86M | 236.43M | 414.23M | 538.86M | 476.17M | 376.95M | 21.20M | 17.68M | 219.09M | 24.78M | 250.28M | 127.35M | 84.46M | 96.37M | 75.86M | 3.75M | 92.44M | 45.25M |
| Gross Profit | 248.73M | 527.83M | 416.64M | 205.40M | 357.92M | 406.64M | 309.23M | 163.56M | 93.04M | 409.85M | 507.91M | 497.54M | 949.85M | 688.11M | 391.91M | 1.19B | 863.47M | 673.12M | 500.68M | 412.35M | 346.73M | 187.59M | 77.15M | 58.80M |
| Gross Profit Ratio | 46.70% | 57.31% | 74.67% | 59.26% | 66.91% | 70.02% | 63.49% | 40.89% | 18.34% | 43.20% | 51.61% | 56.89% | 97.82% | 97.50% | 64.14% | 97.96% | 77.53% | 84.09% | 85.57% | 81.06% | 82.05% | 98.04% | 45.49% | 56.51% |
| Research & Development | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| General & Administrative | 77.74M | 73.75M | 226.98M | 204.60M | 239.39M | 213.41M | 203.48M | 212.14M | 265.88M | 351.75M | 352.71M | 314.28M | 91.22M | 53.29M | 42.99M | 47.23M | 38.85M | 42.12M | 28.42M | 25.00M | 0.00 | 0.00 | 0.00 | 0.00 |
| Selling & Marketing | -2.20M | 0.00 | 0.00 | 0.00 | 0.00 | 24.21M | 20.44M | 22.93M | 17.16M | 19.82M | 17.51M | 14.88M | -16.92M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| SG&A | 75.54M | 73.75M | 226.98M | 204.60M | 239.39M | 213.41M | 203.48M | 212.14M | 265.88M | 351.75M | 352.71M | 314.28M | 74.30M | 53.29M | 42.99M | 47.23M | 38.85M | 42.12M | 28.42M | 25.00M | 30.36M | 10.06M | 9.68M | 6.40M |
| Other Expenses | 141.49M | 224.41M | 6.17M | -2.98M | -188.00K | 3.87M | -4.81M | 6.52M | -4.66M | 208.00K | 9.07M | 215.00K | 547.99M | 464.96M | 553.83M | 767.99M | 553.36M | 300.89M | 174.77M | 181.02M | 166.91M | 130.13M | 9.68M | 6.40M |
| Operating Expenses | 219.24M | 298.16M | 226.98M | 204.60M | 239.39M | 213.41M | 203.48M | 212.14M | 265.88M | 351.75M | 352.71M | 314.28M | 620.39M | 521.32M | 392.90M | 2.02B | 592.21M | 343.01M | 203.19M | 181.02M | 166.91M | 130.13M | 9.68M | 6.40M |
| Cost & Expenses | 503.16M | 466.92M | 368.35M | 345.83M | 416.36M | 387.48M | 381.35M | 448.57M | 680.11M | 890.61M | 828.89M | 691.23M | 641.59M | 538.99M | 611.98M | 2.02B | 842.49M | 470.36M | 287.65M | 277.38M | 242.76M | 133.88M | 102.12M | 51.65M |
| Interest Income | 0.00 | 69.44M | 70.05M | 61.46M | 59.57M | 0.00 | 315.00K | 7.89M | 0.00 | 0.00 | 0.00 | 0.00 | 84.00K | 710.00K | 842.00K | 0.00 | 0.00 | 0.00 | 2.75M | 276.00K | 279.00K | 49.00K | 0.00 | 0.00 |
| Interest Expense | 44.69M | 69.44M | 70.05M | 61.46M | 59.57M | 48.65M | 45.84M | 92.27M | 97.34M | 78.40M | 75.58M | 49.99M | 42.52M | 37.71M | 40.09M | 34.71M | 37.09M | 17.18M | 1.15M | 2.12M | 2.51M | 3.05M | 0.00 | 0.00 |
| Depreciation & Amortization | 143.70M | 133.63M | 113.45M | 120.28M | 148.50M | 149.85M | 155.68M | 211.61M | 394.07M | 511.10M | 451.53M | 356.23M | 328.79M | 294.10M | 345.64M | 521.78M | 539.38M | 339.04M | 184.18M | 165.27M | 144.13M | 89.94M | 0.00 | 0.00 |
| EBITDA | 222.33M | 587.71M | 301.01M | 144.89M | 207.15M | 396.88M | 265.63M | 11.48M | -756.30M | 573.17M | 598.26M | 525.76M | 635.64M | 461.60M | 120.59M | -272.00M | 763.75M | 669.16M | 481.66M | 396.60M | 323.96M | 147.40M | 67.47M | 52.40M |
| EBITDA Ratio | 41.74% | 62.26% | 55.42% | 34.07% | 49.89% | 59.75% | 52.68% | 42.39% | 42.69% | 60.02% | 62.58% | 61.72% | 67.80% | 65.40% | 56.41% | -22.38% | 79.69% | 82.95% | 85.41% | 77.86% | 76.39% | 77.04% | 39.79% | 50.36% |
| Operating Income | 29.49M | 454.08M | 189.66M | -2.18M | 118.35M | 247.03M | 109.95M | -330.57M | -1.15B | 62.07M | 146.73M | 169.31M | 329.46M | 166.79M | -219.86M | -807.15M | 249.25M | 317.62M | 288.43M | 231.33M | 179.82M | 57.46M | 67.47M | 52.40M |
| Operating Income Ratio | 5.54% | 49.30% | 33.99% | -0.63% | 22.13% | 42.54% | 22.57% | -82.64% | -225.86% | 6.54% | 14.91% | 19.36% | 33.93% | 23.63% | -35.98% | -66.40% | 22.38% | 39.68% | 49.29% | 45.47% | 42.55% | 30.03% | 39.79% | 50.36% |
| Total Other Income/Expenses | 4.45M | -169.27M | -239.20M | 6.84M | -119.64M | 2.34M | -42.84M | 38.17M | -102.00M | -78.19M | -66.64M | -49.78M | -65.13M | -37.00M | -42.17M | -21.34M | -33.49M | -11.26M | 1.60M | -1.84M | -2.23M | -3.00M | -3.90M | -4.20M |
| Income Before Tax | 33.94M | 284.81M | -49.54M | 7.64M | -1.11M | 249.36M | 67.11M | -292.40M | -1.25B | -16.12M | 80.10M | 119.53M | 264.33M | 129.79M | -262.03M | -828.48M | 215.76M | 306.35M | 290.03M | 229.49M | 177.59M | 54.46M | 63.57M | 48.20M |
| Income Before Tax Ratio | 6.37% | 30.92% | -8.88% | 2.20% | -0.21% | 42.94% | 13.78% | -73.10% | -245.97% | -1.70% | 8.14% | 13.67% | 27.22% | 18.39% | -42.89% | -68.15% | 19.37% | 38.27% | 49.57% | 45.11% | 42.03% | 28.46% | 37.48% | 46.33% |
| Income Tax Expense | 18.35M | 53.66M | -8.06M | -30.15M | -75.19M | 535.00K | -12.57M | -43.38M | -202.98M | -4.46M | 28.77M | 47.55M | 91.52M | 11.90M | -74.11M | -269.66M | 71.46M | 107.25M | 101.00M | 80.01M | 61.16M | 52.41M | 0.00 | 0.00 |
| Net Income | 15.60M | 231.15M | -41.48M | 37.79M | 74.09M | 248.83M | 79.68M | -249.02M | -1.04B | -11.66M | 51.32M | 71.98M | 172.82M | 117.89M | -187.92M | -558.82M | 144.30M | 199.10M | 189.02M | 149.48M | 116.58M | 2.05M | 63.57M | 48.20M |
| Net Income Ratio | 2.93% | 25.10% | -7.43% | 10.90% | 13.85% | 42.85% | 16.36% | -62.26% | -205.95% | -1.23% | 5.22% | 8.23% | 17.80% | 16.70% | -30.76% | -45.97% | 12.96% | 24.87% | 32.30% | 29.38% | 27.59% | 1.07% | 37.48% | 46.33% |
| EPS | 0.11 | 1.61 | -0.29 | 0.26 | 0.52 | 1.79 | 0.56 | -2.60 | -13.76 | -0.15 | 0.68 | 0.95 | 2.29 | 1.58 | -2.51 | -7.36 | 1.90 | 2.84 | 2.91 | 2.82 | 2.14 | 0.04 | 1.21 | 0.91 |
| EPS Diluted | 0.11 | 1.59 | -0.29 | 0.26 | 0.52 | 1.79 | 0.56 | -2.60 | -13.76 | -0.15 | 0.68 | 0.95 | 2.29 | 1.58 | -2.51 | -7.36 | 1.90 | 2.84 | 2.87 | 2.27 | 1.79 | 0.03 | 0.97 | 0.74 |
| Weighted Avg Shares Out | 146.48M | 143.14M | 142.27M | 141.62M | 140.58M | 139.00M | 137.62M | 95.64M | 75.93M | 75.61M | 75.24M | 74.35M | 74.03M | 73.69M | 74.85M | 75.92M | 75.79M | 70.11M | 64.96M | 52.69M | 51.73M | 52.69M | 52.69M | 52.69M |
| Weighted Avg Shares Out (Dil) | 148.30M | 145.09M | 142.27M | 141.62M | 140.58M | 139.00M | 137.62M | 95.64M | 75.93M | 75.61M | 75.24M | 74.35M | 74.03M | 73.69M | 74.85M | 75.92M | 75.94M | 70.11M | 65.86M | 65.45M | 61.85M | 65.45M | 65.45M | 65.45M |
WTI crude oil futures fall as polls start closing in US election
U.S. West Texas Intermediate (WTI) crude futures fell on Wednesday as presidential election polls were closing in the United States.
Natural Gas, WTI Oil, Brent Oil Forecasts – WTI Oil Pulled Back From Session Highs
Oil traders take some profits off the table and wait for the results of U.S. elections.
Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Rallies As OPEC+ Delays Production Hike
OPEC+ decision provided significant support to oil markets today.
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Oil traders ignored reports indicating that Iran prepared for a potential strike on Israel.
Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Gains Ground As OPEC+ May Delay Production Hike
Recent reports suggest that OPEC+ will not boost production in December.
Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Rebounds As Crude Inventories Fall
The EIA report provided additional support to oil markets.
W&T Offshore Announces Timing of Third Quarter 2024 Earnings Release and Conference Call
HOUSTON, Oct. 30, 2024 (GLOBE NEWSWIRE) -- W&T Offshore, Inc. (NYSE: WTI) (the “Company”) today announced the timing of its third quarter 2024 earnings release and conference call.
Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Retreats As Traders Focus On Middle East
Recent reports indicate that Israel may seek a diplomatic solution to its current operation in Lebanon.
Earnings Preview: W&T Offshore (WTI) Q3 Earnings Expected to Decline
W&T (WTI) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Dives 5.6% As Geopolitical Risk Premium Falls
Traders sell oil contracts as Israel did not target Iran's oil infrastructure.
Source: https://incomestatements.info
Category: Stock Reports
What were W&T Offshore’s Q3 2024 financial highlights?
Production: 31,000 barrels of oil equivalent per day in Q3 2024. Lease Operating Expenses: $72.4 million in Q3 2024, 6% below guidance range. Cash on Hand: $126.5 million at the end of Q3 2024. Net Debt: Reduced to $266 million.