--- title: "W&T Offshore | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 150.02 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/285621513.md" datetime: "2026-05-07T21:14:17.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285621513.md) - [en](https://longbridge.com/en/news/285621513.md) - [zh-HK](https://longbridge.com/zh-HK/news/285621513.md) generator: "portal-rs" --- # W&T Offshore | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 150.02 M Revenue: As of FY2026 Q1, the actual value is USD 150.02 M, beating the estimate of USD 134.55 M. EPS: As of FY2026 Q1, the actual value is USD -0.15, missing the estimate of USD 0.02. EBIT: As of FY2026 Q1, the actual value is USD 23.82 M. W&T Offshore, Inc. reported its financial and operational results for the first quarter ended March 31, 2026. #### Revenue - **Total Revenues**: $150.0 million in Q1 2026, marking a 23% increase from $121.7 million in Q4 2025, and a 16% increase from $129.9 million in Q1 2025. - **Oil Revenue**: $90.1 million in Q1 2026, compared to $76.0 million in Q4 2025 and $87.7 million in Q1 2025. - **NGLs Revenue**: $6.9 million in Q1 2026, consistent with $6.9 million in Q4 2025, and an increase from $4.8 million in Q1 2025. - **Natural Gas Revenue**: $49.9 million in Q1 2026, up from $36.6 million in Q4 2025 and $35.1 million in Q1 2025. - **Other Revenue**: $3.1 million in Q1 2026, compared to $2.2 million in Q4 2025 and $2.3 million in Q1 2025. #### Operational Metrics - **Net Loss**: -$22.5 million, or -$0.15 per diluted share, in Q1 2026, an improvement from -$27.1 million, or -$0.18 per diluted share, in Q4 2025. - **Adjusted Net Loss**: -$0.7 million, or -$0.00 per diluted share, in Q1 2026, compared to -$20.5 million, or -$0.14 per diluted share, in Q4 2025. - **Adjusted EBITDA**: $54.5 million in Q1 2026, representing a 137% increase compared to $23.0 million in Q4 2025. - **Operating Income (Loss)**: $14.6 million in Q1 2026, a significant improvement from -$19.1 million in Q4 2025 and -$8.2 million in Q1 2025. #### Operating Costs - **Lease Operating Expenses (LOE)**: $66.1 million in Q1 2026, 11% lower than $74.6 million in Q4 2025, and 7% lower than $71.0 million in Q1 2025. - **LOE per Boe**: $20.29 in Q1 2026, compared to $22.40 in Q4 2025 and $25.88 in Q1 2025. - **Gathering, Transportation Costs and Production Taxes**: $8.7 million ($2.66 per Boe) in Q1 2026, compared to $8.8 million ($2.63 per Boe) in Q4 2025 and $5.7 million ($2.06 per Boe) in Q1 2025. - **Depreciation, Depletion and Amortization (DD&A)**: $8.37 per Boe in Q1 2026, compared to $8.55 per Boe in Q4 2025 and $11.99 per Boe in Q1 2025. - **Asset Retirement Obligations Accretion**: $2.61 per Boe in Q1 2026, compared to $2.49 per Boe in Q4 2025 and $3.06 per Boe in Q1 2025. - **General & Administrative Expenses (G&A)**: $24.8 million ($17.4 million cash G&A) in Q1 2026, increased from $20.6 million in Q4 2025 and $20.2 million in Q1 2025. - **G&A per Boe**: $7.62 in Q1 2026, compared to $6.19 in Q4 2025 and $7.35 in Q1 2025. #### Cash Flow - **Free Cash Flow**: $21.0 million in Q1 2026, a significant improvement from -$11.2 million in Q4 2025. - **Net Cash Provided by (Used in) Operating Activities**: $2.6 million provided in Q1 2026, compared to $25.9 million provided in Q4 2025 and -$3.2 million used in Q1 2025. #### Unique Metrics - **Total Production**: 36.2 MBoe/d in Q1 2026, flat compared to 36.2 MBoe/d in Q4 2025, and up 19% compared to 30.5 MBoe/d in Q1 2025. - **Oil Production**: 14.4 MBbl/d (40% of total) in Q1 2026. - **NGLs Production**: 4.7 MBbl/d (13% of total) in Q1 2026. - **Natural Gas Production**: 102.5 MMcf/d (47% of total) in Q1 2026. - **Average Realized Sales Prices (before derivative settlements) Per Boe**: $45.08 in Q1 2026, an increase of 26% from $35.88 in Q4 2025, and a decrease of 3% from $46.50 in Q1 2025. - **Derivative Loss (Gain), net**: -$24.5 million net loss in Q1 2026, comprised of -$21.8 million unrealized loss and -$2.7 million realized losses. - **Interest Expense, net**: $9.2 million in Q1 2026, compared to $9.0 million in Q4 2025 and $9.5 million in Q1 2025. - **Income Tax Expense (Benefit)**: $2.6 million expense in Q1 2026, compared to $1.9 million expense in Q4 2025 and -$4.6 million benefit in Q1 2025. - **Unrestricted Cash and Cash Equivalents**: $130.9 million at March 31, 2026. - **Total Debt**: $351.2 million at March 31, 2026. - **Net Debt**: $220.3 million at March 31, 2026. - **Available Liquidity**: $174.8 million at March 31, 2026, including $130.9 million in unrestricted cash and cash equivalents and $43.9 million borrowing availability. - **Net Debt to Trailing Twelve Months Adjusted EBITDA**: 1.5x at March 31, 2026. - **Capital Expenditures (accrual basis)**: $7.2 million in Q1 2026. - **Asset Retirement Obligation Settlements**: $17.2 million in Q1 2026. - **Dividends**: W&T Offshore, Inc. paid $0.01 per common share in March 2026 for the first quarter and declared $0.01 per share for the second quarter 2026, payable May 28, 2026. #### Outlook and Guidance W&T Offshore, Inc. expects second quarter 2026 average daily production to be between 32.8 and 36.5 MBoe/d, with full year 2026 average daily production projected to range from 33.5 to 37.2 MBoe/d. Full year 2026 capital expenditures are anticipated to be between $19.5 million and $24.5 million, alongside plugging & abandonment costs estimated at $34.0 million to $42.4 million. The company also expects substantially all income taxes in 2026 to be deferred. ### Related Stocks - [WTI.US](https://longbridge.com/en/quote/WTI.US.md) ## Related News & Research - [A Look at W&T Offshore's Upcoming Earnings Report](https://longbridge.com/en/news/277818126.md) - [North Sea Crude-WTI weakens on lower offer](https://longbridge.com/en/news/296813963.md) - [Oil extends losses on hopes for Middle East talks to ease supply woes](https://longbridge.com/en/news/297119059.md) - [Oil and gas producer W&T Offshore's Q2 revenue rises more than expected on higher prices](https://longbridge.com/en/news/295014526.md) - [W&T Offshore declares $0.01 per share dividend for Q3 2026](https://longbridge.com/en/news/295023658.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**