Quarterly ResultMay 7, 2026, 04:54 PM
W&T Offshore Q1 Net Loss Narrows to $22.5M; Revenue Up 15.5%
AI Summary
W&T Offshore reported a net loss of $(22.5) million for the first quarter of 2026, an improvement from a net loss of $(30.6) million in the prior year's quarter. Total revenues increased by 15.5% to $150.0 million. The company also declared a regular quarterly dividend of $0.01 per share for both the first and second quarters of 2026, while facing a significant increase in derivative losses and a worsening shareholders' deficit.
Key Highlights
- Net loss for Q1 2026 was $(22.5) million, an improvement from $(30.6) million in Q1 2025.
- Total revenues increased 15.5% to $150.0 million in Q1 2026 from $129.9 million in Q1 2025.
- Operating income was $14.6 million in Q1 2026, compared to an operating loss of $(8.2) million in Q1 2025.
- Net loss per common share improved to $(0.15) in Q1 2026 from $(0.21) in Q1 2025.
- Declared a quarterly cash dividend of $0.01 per share for Q1 and Q2 2026.
- Derivative loss, net, increased to $24.5 million in Q1 2026 from $2.8 million in Q1 2025.
- Cash and cash equivalents decreased to $130.9 million as of March 31, 2026, from $140.6 million.
- Shareholders' deficit worsened to $(221.8) million as of March 31, 2026, from $(199.8) million.
Price Impact
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