W&T Offshore's second quarter revenue of $162.6M and EPS of $0.08 beat estimates, driven by strong pricing.

W&T Offshore reported second quarter 2026 revenue of $162.6 million, an increase of 33% year-over-year, and swung to a net income of $12.6 million, or $0.08 per diluted share. This compares to a net loss of $20.9 million, or ($0.14) per share, in the prior-year period, with results benefiting from higher realized commodity prices and controlled costs.

Key Highlights

• Production averaged 34.7 thousand barrels of oil equivalent per day (MBoe/d), up 3% year-over-year and slightly ahead of analyst expectations.
• The company generated $54.4 million in Adjusted EBITDA and increased Free Cash Flow by 50% sequentially to $31.4 million.
• Net Debt decreased by 9% from the prior quarter to $200.9 million, as the company ended the period with an unrestricted cash balance of $150.7 million.
• Lease operating expenses of $71.6 million came in below the company's guidance range for the quarter.