W&T Offshore Inc. (WTI) Tuesday reported a decline in fourth-quarter profit to $16.6 million or $0.21 per share, from $46.1 million or $0.61 per share in the same period last year.
Adjusted income for the quarter was $19.7 million or $0.26 per share. On average, twelve analysts polled by Thomson Reuters expected the company to earn $0.25 per share for the quarter. Analysts' estimates typically exclude special items.
Meanwhile, revenues for the latest quarter fell to $237.15 million from $261.90 million in the prior year. Analysts expected revenues of $231.01 million.
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