Quarterly ResultAug 5, 2026, 04:46 PM
W&T Offshore Q2 Net Income $12.6M; Adj. EBITDA $54.4M
AI Summary
W&T Offshore reported strong operational and financial results for the second quarter of 2026. The company achieved a net income of $12.6 million, a significant turnaround from a net loss in the previous quarter, and generated Adjusted EBITDA of $54.4 million. Free Cash Flow increased by 50% to $31.4 million, while production met guidance at 34.7 MBoe/d. W&T Offshore also strengthened its balance sheet by growing unrestricted cash to $150.7 million and reducing Net Debt to $200.9 million, and declared a quarterly dividend of $0.01 per share.
Key Highlights
- Reported net income of $12.6 million, or $0.08 per diluted share, up significantly from a Q1 2026 net loss.
- Generated Adjusted EBITDA of $54.4 million, with $108.9 million in the first half of 2026.
- Increased Free Cash Flow by 50% to $31.4 million compared with $21.0 million in Q1 2026.
- Produced 34.7 thousand barrels of oil equivalent per day (49% liquids), at the midpoint of guidance.
- Grew unrestricted cash and cash equivalents 15% to $150.7 million from $130.9 million at March 31, 2026.
- Net Debt decreased 9% to $200.9 million from $220.3 million at March 31, 2026.
- Incurred $71.6 million in lease operating expenses, below the lower end of guidance.
- Declared a third quarter 2026 dividend of $0.01 per share, payable August 26, 2026.
Price Impact
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