HOUSTON (AP) _ W&T Offshore Inc. (WTI) on Wednesday reported a third-quarter loss of $13.3 million, after reporting a profit in the same period a year earlier.
The Houston-based company said it had a loss of 9 cents per share. Losses, adjusted for non-recurring gains, came to 14 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 24 cents per share.
The independent oil and gas company posted revenue of $72.5 million in the period.
In the final minutes of trading on Wednesday, the company's shares hit $1.52. A year ago, they were trading at $4.24.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WTI at https://www.zacks.com/ap/WTI