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For the quarter ended June 2023, W&T Offshore (WTI) reported revenue of $126.18 million, down 53.9% over the same period last year. EPS came in at -$0.08, compared to $1.32 in the year-ago quarter.
The reported revenue represents a surprise of -0.45% over the Zacks Consensus Estimate of $126.75 million. With the consensus EPS estimate being -$0.06, the EPS surprise was -33.33%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how W&T performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
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NGLs ($/Bbl) - Average realized sales prices (before the impact of derivative settlements): $23.44 compared to the $25.29 average estimate based on three analysts.
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Natural gas ($/Mcf) - Average realized sales prices (before the impact of derivative settlements): $2.34 versus $2.30 estimated by three analysts on average.
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Oil ($/Bbl) - Average realized sales prices (before the impact of derivative settlements): $71.76 compared to the $71.08 average estimate based on three analysts.
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Net sales volumes - Oil: 1254 MBBL versus 1282.61 MBBL estimated by two analysts on average.
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Net sales volumes - NGLs: 443 MBBL versus the two-analyst average estimate of 342.86 MBBL.
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Net sales volumes - Natural Gas: 10023 MMcf versus the two-analyst average estimate of 10887.55 MMcf.
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Revenues- Oil: $89.98 million versus the two-analyst average estimate of $92.29 million. The reported number represents a year-over-year change of -43.5%.
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Revenues- NGLs: $10.39 million versus $8.36 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -37.9% change.
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Revenues- Natural gas: $23.44 million versus the two-analyst average estimate of $25.96 million. The reported number represents a year-over-year change of -74.6%.
View all Key Company Metrics for W&T here>>>
Shares of W&T have returned +13.2% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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