NYSE$WTI
W&T Offshore Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Reported operational and financial results and declared a fourth quarter 2024 dividend of $0.01 per share.
W&T Offshore reported a net loss of $36.9 million for the third quarter of 2024, with production at 31.0 MBoe/d. The company generated $121.4 million in revenue and $3.9 million in Free Cash Flow, marking the 27th consecutive quarter of positive Free Cash Flow. They declared a fourth quarter dividend of $0.01 per share and reduced the full year capital expenditure budget.
- Produced 31.0 thousand barrels of oil equivalent per day (“MBoe/d”) (52% liquids) within the Company’s third quarter guidance despite impacts from hurricanes and downtime.
- Incurred lease operating expenses (“LOE”) of $72.4 million, 6% lower than the bottom end of the Company’s third quarter guidance range.
- Generated net cash from operating activities of $14.8 million and Free Cash Flow of $3.9 million in the third quarter of 2024, marking the 27th consecutive quarter of positive Free Cash Flow.
- Reduced 2024 full year capital expenditure budget from $35 to $45 million to $25 to $35 million.
Headline financials
Revenue & EPS history
W&T Offshore · Revenue · Quarterly
$121M
Forward guidance
W&T Offshore provided guidance for the fourth quarter and full year 2024, anticipating increased LOE in Q4 due to projects deferred earlier in the year and a reduced full year capital expenditure budget.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2024
-0.3%
Avg return
Earnings day
+1.3%
Avg return
5 days after
+0.3%
Avg return
30 days after
48%
30 / 63 earnings
Positive
+28.0%
Q1 2022
Best reaction
-21.4%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.3% | +10.2% | -3.7% | |
| Q4 2025 | +2.9% | +9.1% | -10.4% | |
| Q3 2025 | +7.4% | -1.0% | -3.6% | |
| Q1 2025 | +9.8% | +27.6% | +44.8% | |
| Q4 2024 | -1.3% | -3.9% | -14.4% | |
| Q3 2024 | -11.2% | -15.3% | -27.7% | |
| Q2 2024 | +3.3% | +3.8% | -4.2% | |
| Q1 2024 | +0.4% | -2.1% | -11.3% | |
| Q4 2023 | -8.4% | -9.8% | -4.2% | |
| Q3 2023 | -6.5% | -6.5% | -20.9% | |
| Q2 2023 | -10.0% | -5.5% | -6.8% | |
| Q1 2023 | -3.5% | -5.3% | -2.8% | |
| Q4 2022 | -3.2% | -10.7% | -15.7% | |
| Q3 2022 | -21.4% | -13.8% | -37.3% | |
| Q2 2022 | +19.8% | +33.9% | +33.7% | |
| Q1 2022 | +28.0% | +22.6% | +57.7% | |
| Q4 2021 | -14.0% | -19.1% | -32.0% | |
| Q3 2021 | -4.2% | -2.8% | -20.9% | |
| Q2 2021 | -21.1% | -19.8% | -17.0% | |
| Q1 2021 | -0.6% | +3.5% | +28.6% | |
| Q4 2020 | +17.7% | +32.6% | +18.0% | |
| Q3 2020 | -4.7% | +14.2% | +50.0% | |
| Q2 2020 | +0.4% | +6.8% | -11.4% | |
| Q1 2020 | +0.0% | -13.2% | -3.5% | |
| Q4 2019 | -11.2% | -38.2% | -28.7% | |
| Q3 2019 | -7.6% | -2.8% | -1.8% | |
| Q2 2019 | -0.2% | -6.1% | -1.8% | |
| Q1 2019 | -16.9% | -17.1% | -34.2% | |
| Q4 2018 | +6.3% | +10.4% | +40.8% | |
| Q3 2018 | +10.9% | +14.8% | -12.0% | |
| Q2 2018 | +2.6% | -0.4% | -2.4% | |
| Q1 2018 | +1.3% | +10.5% | +6.7% | |
| Q4 2017 | -13.0% | -3.7% | +8.3% | |
| Q3 2017 | -1.9% | +5.8% | +11.5% | |
| Q2 2017 | +6.7% | +2.1% | -0.5% | |
| Q1 2017 | -6.0% | +9.0% | -1.0% | |
| Q4 2016 | +11.2% | +13.9% | +10.4% | |
| Q3 2016 | -4.3% | -0.7% | +34.0% | |
| Q2 2016 | +9.5% | +16.2% | -1.1% | |
| Q1 2016 | +7.4% | — | — | |
| Q4 2015 | -6.9% | — | — | |
| Q2 2015 | +7.0% | — | — | |
| Q1 2015 | -11.3% | — | — | |
| Q4 2014 | +7.0% | — | — | |
| Q3 2014 | +7.6% | — | — | |
| Q2 2014 | +16.5% | — | — | |
| Q1 2014 | -4.6% | — | — | |
| Q4 2013 | -2.9% | — | — | |
| Q3 2013 | +1.2% | — | — | |
| Q2 2013 | +0.6% | — | — | |
| Q1 2013 | +12.2% | — | — | |
| Q4 2012 | -5.9% | — | — | |
| Q3 2012 | +5.8% | — | — | |
| Q2 2012 | +6.8% | — | — | |
| Q1 2012 | -9.2% | — | — | |
| Q4 2011 | -2.6% | — | — | |
| Q3 2011 | +1.8% | — | — | |
| Q2 2011 | -18.9% | — | — | |
| Q1 2011 | -3.1% | — | — | |
| Q4 2010 | +3.8% | — | — | |
| Q3 2010 | +2.0% | — | — | |
| Q2 2010 | +5.5% | — | — | |
| Q1 2010 | -4.6% | — | — |
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