Filing Flows › Energy › W&T Offshore (WTI)
W&T Offshore (WTI) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 29, 2026 · W&T Offshore (WTI) Q3 2026 earnings results →
Q3 2026 Revenue up 31% year over year to $167M · 8¢ of every $1 of revenue lost · operating margin 7.1%
W&T Offshore made $167M in Q3 2026 (+31% Y/Y): Oil $112M, Natural gas $41.2M, NGLs $9.1M. Operating margin 7.1%, net loss $13.6M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 29, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $167.1M in Q3 2026, up 31% year over year and up 3% from the previous quarter. Oil was the largest line at 67% of revenue. Oil added $27.6M year over year (up 33%), 70% of the total change.
Operating profit was $11.8M, a 7.1% margin (up 17.0 points year over year). Total costs grew 11% against revenue growth of 31%. The fastest-growing cost line was General & admin (+47%). The quarter ended with a net loss of $13.6M, after a profit of $12.6M the previous quarter. Net interest and other expense of $25.0M was the main reason.
Operating cash flow was $36.6M (up 38% year over year). Non-cash charges added back $28.3M of depreciation and amortization and $10.4M of share-based compensation. Working capital and other items added $11.6M. Capital expenditures of $8.1M left free cash flow of $28.5M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 29, 2026 | $167M | +31% | 7.1% | −$13.6M | $36.6M |
| Q2 2026 | 10-Q | Aug 5, 2026 | $163M | +33% | 13.9% | $12.6M | $33.3M |
| Q1 2026 | 10-Q | May 7, 2026 | $150M | +16% | 9.8% | −$22.5M | $2.6M |
| Q4 2025 | 10-K | Mar 16, 2026 | $122M | +1% | -15.7% | −$27.1M | $25.9M |
| Q3 2025 | 10-Q | Nov 6, 2025 | $128M | +5% | -9.9% | −$71.5M | $26.5M |
| Q2 2025 | 10-Q | Aug 5, 2025 | $122M | -14% | -10.5% | −$20.9M | $28.0M |
| Q1 2025 | 10-Q | May 7, 2025 | $130M | -8% | -6.3% | −$30.6M | −$3.2M |
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🔄Rotation against the market and its industry (RRG)interactive
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📈Investments: gains and what it boughtinteractive
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About W&T Offshore
W&T Offshore, Inc. (“we,” “our” or “us”) is a publicly held Texas corporation. We are an independent oil and natural gas producer with substantially all our operations offshore in the Gulf of America. We are active in the acquisition, exploration and development of oil and natural gas properties. We operate in one reportable segment. Since our founding in 1983 by our Chairman and Chief Executive Officer, Tracy Krohn, we have developed significant technical expertise in finding and developing properties in the Gulf of America with existing production which provide the best opportunity to achieve a return on our invested capital. We have successfully discovered and produced properties on the conventional shelf and in the deepwater across the Gulf of America.
In its own words, from its 10-K, filed Mar 16, 2026.
W&T Offshore against its Crude Petroleum & Natural Gas peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +31% against the peers' median +46%. Operating margin: 7.1% against the peers' median 19.5%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| WTI W&T Offshore | Q3 2026 | $167M | +31% | 7.1% |
| EOG EOG Resources | Q3 2026 | $8.5B | +46% | 41.9% |
| OXY Occidental Petroleum | Q2 2026 | $8.1B | +53% | 48.5% |
| DVN Devon Energy | Q3 2026 | $6.9B | +58% | 18.3% |
| FANG Diamondback Energy | Q3 2026 | $5.4B | +38% | 46.0% |
| EXE Expand Energy | Q3 2026 | $3.3B | +11% | 19.5% |
| PARR PAR Pacific Holdings | Q3 2026 | $3.1B | +52% | 15.5% |
| OVV Ovintiv | Q3 2026 | $2.6B | +26% | 33.7% |
| SM SM Energy | Q3 2026 | $2.2B | +167% | 10.9% |
Source: W&T Offshore 10-Q on SEC EDGAR · CIK 1288403 · Crude Petroleum & Natural Gas
13F: who owns WTI and who is buying
More on WTI
- How W&T Offshore makes money: revenue by segment
- W&T Offshore next earnings date and what analysts expect
- W&T Offshore stock forecast, price target and fair value
- Who owns W&T Offshore stock: holders, funds and Congress trades
- W&T Offshore guidance and outlook
- W&T Offshore recalls, complaints and regulation
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results