W&T: 2Q Earnings Snapshot
HOUSTON (AP) _ W&T Offshore Inc. (WTI) on Wednesday reported second-quarter earnings of $36.4 million.
On a per-share basis, the Houston-based company said it had net income of 25 cents.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 9 cents per share.
The independent oil and gas company posted revenue of $134.7 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $126.5 million.
The company’s shares closed at $4.49. A year ago, they were trading at $6.94.