W&T Offshore Q2 Profit Declines - Quick Facts

(RTTNews) - W&T Offshore Inc. (WTI) Wednesday reported second-quarter net income of $22.4 million or $0.29 per share, compared to $53.6 million or $0.70 per share in the same period last year.

Adjusted income for the quarter declined to $15.3 million or $0.20 per share, from $21.0 million, or $0.28 per share in the year-ago period. On average, twelve analysts polled by Thomson Reuters expected the company to earn $0.22 per share for the quarter. Analysts' estimates typically exclude special items.

Meanwhile, revenues for the latest second quarter rose to $235.38 million from $215.51 million in the prior year, while eight analysts expected revenues of $248.39 million.