Quarterly ResultAug 5, 2026, 05:34 PM
W&T Offshore Q2 Net Income $12.6M; EPS $0.08
AI Summary
W&T Offshore, Inc. reported a net income of $12.6 million, or $0.08 per diluted share, for the second quarter of 2026, a substantial improvement from a net loss in the prior year. Total revenues for the quarter increased to $162.6 million. For the first six months of 2026, the company significantly reduced its net loss to $10.0 million and saw an increase in net cash provided by operating activities. The Board also declared a quarterly dividend of $0.01 per share and made significant share-based compensation grants, supported by an increase in available shares under its long-term incentive plan.
Key Highlights
- Q2 2026 Net Income was $12.6 million, a significant improvement from a net loss of $20.9 million in Q2 2025.
- Q2 2026 Diluted EPS was $0.08, up from $(0.14) in Q2 2025.
- Total revenues for Q2 2026 increased to $162.6 million from $122.4 million in Q2 2025.
- For the six months ended June 30, 2026, net loss decreased to $10.0 million from $51.5 million in the prior year period.
- Net cash provided by operating activities for the six months ended June 30, 2026, rose to $35.9 million from $24.8 million.
- Board declared a quarterly dividend of $0.01 per share for Q3 2026, payable August 26, 2026.
- Granted 2.8 million restricted stock units (RSUs) and 2.6 million performance stock units (PSUs) in May 2026.
- Long-term incentive plan amended to increase shares available from 10.0 million to 22.0 million.
Price Impact
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