Filing Flows › W&T Offshore (WTI) › Q1 2025
W&T Offshore (WTI) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 7, 2025
W&T Offshore (WTI) reported revenue of $130M for the first quarter 2025 (Q1 2025), -8% from a year earlier and +8% from the quarter before. Operating margin was -6.3%, net loss $30.6M (23.5% of revenue).
W&T Offshore, Q1 2025: revenue $130M (-8% year over year), operating margin -6.3%, net loss $30.6M, operating cash flow −$3.2M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $130M | +8% | -8% |
| Operating profit | −$8.2M | — | — |
| Net earnings | −$30.6M | — | — |
| Operating cash flow | −$3.2M | — | — |
What changed
Revenue was $129.9M in Q1 2025, down 8% year over year and up 8% from the previous quarter. Oil was the largest line at 68% of revenue. Oil lost $19.3M year over year (down 18%), 177% of the total change.
Operating costs exceeded revenue by $8.2M, an operating margin of -6.3%. Total costs fell 2% while revenue fell 8%. The quarter ended with a net loss of $30.6M, wider than the previous quarter's $23.4M loss. Net interest and other expense of $26.9M was the main reason.
Operating cash flow was −$3.2M. Non-cash charges added back $32.9M of depreciation and amortization and $2.1M of share-based compensation. Working capital and other items used $7.6M. Capital expenditures of $400K exceeded it, leaving free cash flow of −$3.6M.
Questions
What was W&T Offshore's revenue in the first quarter 2025?
W&T Offshore (WTI) reported revenue of $130M for the first quarter 2025 (Q1 2025), -8% from a year earlier and +8% from the quarter before.
Was W&T Offshore profitable in the first quarter 2025?
Operating loss was $8.2M (-6.3% of revenue) and net loss $30.6M.
Source: W&T Offshore 10-Q on SEC EDGAR.