Quarterly ResultAug 5, 2026, 04:59 PM
W&T Offshore Q2 Net Income $12.6M; Declares $0.01 Dividend
AI Summary
W&T Offshore, Inc. reported strong financial and operational results for the second quarter of 2026, with net income reaching $12.6 million and Free Cash Flow increasing by 50% to $31.4 million. The company also saw a 15% increase in unrestricted cash and a 9% decrease in Net Debt, strengthening its balance sheet. Additionally, W&T Offshore declared its 12th consecutive quarterly dividend of $0.01 per share for the third quarter of 2026.
Key Highlights
- Net income for Q2 2026 was $12.6 million, a significant increase from a net loss of $22.5 million in Q1 2026.
- Adjusted Net Income totaled $3.5 million, compared to an Adjusted Net Loss of $5.1 million in Q1 2026.
- Free Cash Flow increased by 50% to $31.4 million compared with $21.0 million in Q1 2026.
- Adjusted EBITDA was $54.4 million, contributing to $108.9 million in the first half of 2026.
- Production averaged 34.7 thousand barrels of oil equivalent per day (MBoe/d), up 3% from Q2 2025.
- Unrestricted cash and cash equivalents grew 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.
- W&T Offshore declared a third quarter 2026 dividend of $0.01 per share.
Price Impact
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