W&T Offshore, Inc. (WTI) Income Statement
WTI 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsWTI revenue and net income
Where WTI's revenue goes
2025Each bar shows an amount and its share of revenue. WTI kept −29.9% of revenue as net income.
WTI profit margins
WTI growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −4.5% | −18.3% | +7.7% | −0.1% |
| Gross profit | +1.5% | −22.7% | +9.5% | +14.5% |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
WTI quarterly EPS vs estimates
W&T Offshore beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: November 4, 2026 (estimate $-0.07).
WTI income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $501.5M | $525.3M | $532.7M | $921.0M | $558.0M | $346.6M | $534.9M | $580.7M | $487.1M | $400.0M |
| Cost of revenue | $142.1M | $171.2M | $140.9M | $142.2M | $118.4M | $118.7M | $157.5M | $174.1M | $177.9M | $236.4M |
| Gross profit | $359.3M | $354.1M | $391.7M | $778.7M | $439.6M | $227.9M | $377.4M | $406.6M | $309.2M | $163.6M |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $378.7M | $363.9M | $335.4M | $298.2M | $227.0M | $204.6M | $239.4M | $84.4M | $80.2M | $82.7M |
| Total operating expenses | $412.1M | $396.3M | $362.2M | $324.7M | $249.9M | $227.1M | $258.8M | $213.4M | $203.5M | $212.1M |
| Operating income | −$52.8M | −$42.2M | $29.5M | $454.1M | $189.7M | $801,000 | $118.5M | $247.0M | $110.0M | −$330.6M |
| Interest income | $22.9M | $36.9M | $10.1M | $155.0M | $245.4M | $61.5M | $59.6M | $48.6M | $45.8M | $92.3M |
| Interest expense | $36.5M | $40.5M | $44.7M | $69.4M | $70.0M | $61.5M | $59.6M | $48.6M | $45.8M | $92.3M |
| Income before taxes | −$99.1M | −$97.1M | $33.9M | $284.8M | −$49.5M | $7.6M | −$1.1M | $249.4M | $67.1M | −$292.4M |
| Income taxes | $50.9M | −$10.0M | $18.3M | $53.7M | −$8.1M | −$30.2M | −$75.2M | $535,000 | −$12.6M | −$43.4M |
| Net income | −$150.1M | −$87.1M | $15.6M | $231.1M | −$41.5M | $37.8M | $74.1M | $248.8M | $79.7M | −$249.0M |
| EBITDA | $87.1M | $118.7M | $222.3M | $487.9M | $134.0M | $189.4M | $207.0M | $396.9M | $265.6M | $11.5M |
| EPS (diluted) | −$0.40 | −$0.45 | −$0.09 | $2.16 | $0.23 | $0.12 | $0.60 | $1.00 | $0.59 | −$1.60 |
| Gross margin | 71.7% | 67.4% | 73.5% | 84.6% | 78.8% | 65.8% | 70.6% | 70.0% | 63.5% | 40.9% |
| Operating margin | −10.5% | −8.0% | 5.5% | 49.3% | 34.0% | 0.2% | 22.2% | 42.5% | 22.6% | −82.6% |
| Net margin | −29.9% | −16.6% | 2.9% | 25.1% | −7.4% | 10.9% | 13.9% | 42.8% | 16.4% | −62.3% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $162.6M | $150.0M | $121.7M | $127.5M | $122.4M | $129.9M | $120.3M | $121.4M | $142.8M | $140.8M | $132.3M | $142.4M |
| Cost of revenue | $78.1M | $110.5M | $37.3M | $118.6M | $117.5M | $38.5M | $44.1M | $40.4M | $127.6M | $120.3M | $40.3M | $43.3M |
| Gross profit | $84.5M | $39.5M | $84.5M | $8.9M | $4.8M | $91.3M | $76.2M | $81.0M | $15.1M | $20.5M | $92.1M | $99.1M |
| Sales, general & admin | $27.5M | $24.8M | $95.2M | $21.5M | $17.7M | $91.2M | $85.1M | $92.1M | $95.3M | $91.3M | $82.9M | $81.8M |
| Total operating expenses | $61.9M | $24.8M | $103.6M | $21.5M | $17.7M | $99.6M | $93.2M | $100.0M | $21.4M | $20.5M | $90.3M | $81.8M |
| Operating income | $22.6M | $14.6M | −$19.1M | −$12.6M | −$12.9M | −$8.2M | −$17.0M | −$19.0M | −$6.2M | −$4,000 | $1.8M | $17.3M |
| Interest income | — | — | $8.8M | $4.9M | $3.0M | $12.2M | $12.3M | $6.8M | — | — | — | $8.4M |
| Interest expense | $9.2M | $9.2M | $9.0M | $9.0M | $9.0M | $9.5M | $10.2M | $10.0M | $10.2M | $10.1M | $9.7M | $9.9M |
| Income before taxes | $11.2M | −$19.9M | −$25.2M | −$15.5M | −$23.3M | −$35.2M | −$25.2M | −$41.5M | −$20.0M | −$10.4M | $1.5M | $6.9M |
| Income taxes | −$1.4M | $2.6M | $1.9M | $56.0M | −$2.4M | −$4.6M | −$1.8M | −$4.5M | −$4.6M | $1.0M | $1.9M | $4.8M |
| Net income | $12.6M | −$22.5M | −$27.1M | −$71.5M | −$20.9M | −$30.6M | −$23.4M | −$36.9M | −$15.4M | −$11.5M | −$443,000 | $2.1M |
| EBITDA | $59.2M | $25.1M | $20.6M | $30.1M | $20.9M | $15.6M | $31.4M | $10.6M | $35.2M | $41.5M | $52.3M | $53.5M |
| EPS (diluted) | $0.02 | −$0.15 | −$0.14 | −$0.05 | −$0.08 | −$0.13 | −$0.18 | −$0.17 | −$0.05 | −$0.05 | −$0.00 | $0.01 |
| Gross margin | 52.0% | 26.3% | 69.4% | 7.0% | 3.9% | 70.3% | 63.3% | 66.8% | 10.6% | 14.6% | 69.6% | 69.6% |
| Operating margin | 13.9% | 9.8% | −15.7% | −9.9% | −10.5% | −6.3% | −14.1% | −15.6% | −4.4% | −0.0% | 1.4% | 12.1% |
| Net margin | 7.7% | −15.0% | −22.3% | −56.1% | −17.1% | −23.5% | −19.4% | −30.4% | −10.8% | −8.1% | −0.3% | 1.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in WTI's financial statements (latest annual report filed March 16, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
WTI financial results
In fiscal year 2025 (ended December 31, 2025), W&T Offshore reported revenue of $501.5 million, down 4.5% from the year before. It had a net loss of $150.1 million, a net profit margin of −29.9%. Diluted earnings per share came to −$0.40. Over five years revenue grew at an average rate of 7.7% a year.
See the WTI stock overview for the latest quote and news, or the WTI chart for price history and technical indicators.
WTI income statement FAQ
What is W&T Offshore's annual revenue?
W&T Offshore reported total revenue of $501.5 million for fiscal year 2025, which ended on December 31, 2025. That was down 4.5% from $525.3 million the previous year.
Is W&T Offshore profitable?
No. W&T Offshore reported a net loss of $150.1 million in fiscal 2025, a net profit margin of −29.9%; its operating margin was −10.5%.
What is W&T Offshore's gross margin?
W&T Offshore's gross margin was 71.7% in fiscal 2025: for every $100 of revenue, W&T Offshore kept $72 after the direct cost of its products and services.
How fast is W&T Offshore growing?
Revenue grew 7.7% a year on average over the last five fiscal years, from $346.6 million to $501.5 million.
What are W&T Offshore's earnings per share?
W&T Offshore earned $-0.40 per diluted share in fiscal 2025, compared with $-0.45 a year earlier.
When will W&T Offshore report its next earnings?
W&T Offshore is expected to report results for the quarter ending September 30, 2026 on November 4, 2026.
When does W&T Offshore's fiscal year end?
W&T Offshore's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 16, 2026.