Filing Flows › W&T Offshore (WTI) › Q2 2026 › vs Q1 2026
W&T Offshore (WTI) Q2 2026 vs Q1 2026 (quarter over quarter)
W&T Offshore's revenue rose $12.6M (+8%) from $150M in Q1 2026 to $163M in Q2 2026. The biggest changes: Oil +$30.4M (+34%); Natural gas −$17.8M (-36%); Other +$917K (+29%). Operating margin 13.9% against 9.8% (+4.2 pts).
W&T Offshore, Q2 2026: revenue $163M (+33% year over year), operating margin 13.9%, net earnings $12.6M, operating cash flow $33.3M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 13.9% | 9.8% | +4.2 pts |
| Net margin | 7.7% | -15.0% | +22.7 pts |
| Free cash flow margin | 15.2% | -5.1% | +20.2 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Oil | $120M | $90.1M | $30.4M | +34% |
| Natural gas | $32.1M | $49.9M | −$17.8M | -36% |
| NGLs | $6.0M | $6.9M | −$874K | -13% |
| Other | $4.0M | $3.1M | $917K | +29% |
| Revenue | $163M | $150M | $12.6M | +8% |
| Operating profit | $22.6M | $14.6M | $8.0M | +55% |
| Costs & expenses | $140M | $135M | $4.6M | +3% |
| Pre-tax earnings | $11.2M | −$19.9M | $31.1M | — |
| Other expense, net | $11.4M | $34.5M | −$23.1M | -67% |
| General & admin | $27.5M | $24.8M | $2.7M | +11% |
| Other operating costs | $112M | $111M | $1.9M | +2% |
| Income tax benefit | $1.4M | −$2.6M | $4.0M | — |
| Net earnings | $12.6M | −$22.5M | $35.1M | — |
| Operating cash sources | $49.2M | $12.2M | $37.0M | +304% |
| Depreciation & amortization | $25.6M | $27.3M | −$1.7M | -6% |
| Share-based compensation | $11.1M | $7.4M | $3.6M | +49% |
| Working capital & other | $15.9M | $9.6M | $6.3M | +65% |
| Operating cash flow | $33.3M | $2.6M | $30.8M | 13× |
| Free cash flow (OCF − capex) | $24.7M | −$7.6M | $32.3M | — |
| Capital expenditures | $8.6M | $10.1M | −$1.5M | -15% |
Questions
How much did W&T Offshore's revenue grow quarter over quarter in Q2 2026?
W&T Offshore's revenue rose $12.6M (+8%) from $150M in Q1 2026 to $163M in Q2 2026.
What drove W&T Offshore's revenue change in Q2 2026?
Oil +$30.4M (+34%); Natural gas −$17.8M (-36%); Other +$917K (+29%).