Filing Flows › W&T Offshore (WTI) › Q1 2026
W&T Offshore (WTI) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
W&T Offshore (WTI) reported revenue of $150M for the first quarter 2026 (Q1 2026), +16% from a year earlier and +23% from the quarter before. Operating margin was 9.8%, net loss $22.5M (15.0% of revenue).
W&T Offshore, Q1 2026: revenue $150M (+16% year over year), operating margin 9.8%, net loss $22.5M, operating cash flow $2.6M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $150M | +23% | +16% |
| Operating profit | $14.6M | — | — |
| Net earnings | −$22.5M | — | — |
| Operating cash flow | $2.6M | -90% | — |
What changed
Revenue was $150.0M in Q1 2026, up 16% year over year and up 23% from the previous quarter. Oil was the largest line at 60% of revenue. Natural gas added $14.8M year over year (up 42%), 73% of the total change.
Operating profit was $14.6M, a 9.8% margin (up 16.1 points year over year). Total costs fell 2% while revenue rose 16%. The fastest-growing cost line was General & admin (+23%). The quarter ended with a net loss of $22.5M, narrower than the previous quarter's $27.1M loss. Net interest and other expense of $34.5M was the main reason.
Operating cash flow was $2.6M. Non-cash charges added back $27.3M of depreciation and amortization and $7.4M of share-based compensation. Working capital and other items used $9.6M. Capital expenditures of $10.1M exceeded it, leaving free cash flow of −$7.6M.
Questions
What was W&T Offshore's revenue in the first quarter 2026?
W&T Offshore (WTI) reported revenue of $150M for the first quarter 2026 (Q1 2026), +16% from a year earlier and +23% from the quarter before.
Was W&T Offshore profitable in the first quarter 2026?
Operating profit was $14.6M (9.8% of revenue) and net loss $22.5M.
Source: W&T Offshore 10-Q on SEC EDGAR.