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HOUSTON (AP) — HOUSTON (AP) — W&T Offshore Inc. (WTI) on Tuesday reported first-quarter profit of $26 million.
The Houston-based company said it had profit of 17 cents per share. Losses, adjusted for non-recurring gains, were 2 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share.
The independent oil and gas company posted revenue of $131.7 million in the period, also missing Street forecasts. Three analysts surveyed by Zacks expected $150.5 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a WTI">Zacks stock report on WTI at https://www.zacks.com/ap/WTI