HOUSTON (AP) ¿ Oil and gas company W&T Offshore Inc. on Thursday posted a loss in the third-quarter amid a 42 percent drop in revenue. W&T said it lost $1.3 million, or 2 cents per share, during the July-September period, compared to a profit of $78.2 million, or $1.02 per share, in the prior-year period. Revenue plunged to $167 million from $289.8 million a year earlier but was better than the $164.3 million analysts were forecasting. The company attributed the net loss in large part to a $2.1 million unrealized derivative loss. Excluding this and other special items, the company said it earned $200,000, or break even per share. Analysts surveyed by Thomson Reuters were looking for a loss of 5 cents per share. Those estimates typically exclude special items. Shares of W&T fell 7 cents to end Thursday at $11.78.
TheStreet’s Fundamentals of Investing Course will teach you the keys to making the right decisions in any market.
TheStreet’s Personal Finance Essentials Course will teach you money management basics and investing strategies to help you avoid major financial pitfalls.
TheStreet Courses offers dedicated classes designed to improve your investing skills, stock market knowledge and money management capabilities.
More from Technology
Apple Supplier Stocks Fall: Analog Devices Up 1.6%; NXP Semiconductors Off 3.1%
Gainers trail losers among Apple suppliers. Apple off 2%.
Apple Has Been Working Harder Lately to Keep Its Mac Base Happy
Amid reports that it's prepping large software and processor changes for the Mac, Apple has launched new MacBook Pros featuring nuts-and-bolts improvements.
Chip Maker Qorvo Has a Set of Bearish Charts - Stand Aside for Now
Let's see what the charts look like.