$1.2 B

WTI Mkt cap, 18-Jul-2018

$134.2 M

W&T Offshore Revenue Q1, 2018
W&T Offshore Net income (Q1, 2018)27.6 M
W&T Offshore EBIT (Q1, 2018)38.7 M
W&T Offshore Cash, 31-Mar-2018130.7 M
W&T Offshore EV1 B

W&T Offshore Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

196.7 m104.1 m115.2 m487.1 m

Revenue growth, %

(47%)11%

General and administrative expense

59.7 m

Operating expense total

377.1 m

Depreciation and amortization

138.5 m

EBIT

(30.5 m)(60.8 m)21.3 m110 m

EBIT margin, %

(16%)(58%)19%23%

Income tax expense

(12.6 m)

Net Income

51.3 m(33.4 m)(51.6 m)16.5 m79.7 m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018

Revenue

244.6 m254.5 m263 m234.5 m127.9 m149.1 m126.2 m77.7 m99.7 m107.4 m124.4 m123.3 m134.2 m

Sales and marketing expense

67.3 m55.6 m61.8 m71.7 m53.3 m45.1 m45 m44.5 m36.6 m37.5 m40.2 m31.5 m

General and administrative expense

20 m23.6 m19.7 m21 m20.8 m19.8 m16.5 m16.4 m16.2 m12.7 m13.3 m16.5 m15 m

Operating expense total

212.6 m217.3 m228.6 m213.5 m465.4 m427.9 m594.8 m244.3 m226.7 m165.7 m96.2 m90.4 m95.5 m

EBIT

32 m37.2 m34.4 m21 m(337.5 m)(278.8 m)(468.6 m)(166.6 m)(127 m)(58.3 m)28.2 m32.9 m38.7 m

EBIT margin, %

13%15%13%9%(264%)(187%)(371%)(214%)(127%)(54%)23%27%29%

Interest expense

11.3 m

Pre tax profit

17.8 m15.1 m1.6 m27.7 m

Income tax expense

8 m6.6 m5.3 m904 k(103.6 m)(44.1 m)(18.5 m)(4.9 m)(35.7 m)(3.8 m)(7.6 m)(9 m)109 k

Net Income

14.2 m11.2 m9.8 m684 k(255.1 m)(260.4 m)(477.6 m)(190.5 m)(120.9 m)45.9 m24.3 m33.3 m27.6 m

W&T Offshore Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2016FY, 2017

Cash

15.8 m23.7 m70.2 m99.1 m

Accounts Receivable

2 m53.2 m

Inventories

276.5 k4.4 m

Current Assets

173.6 m182.6 m191.7 m190.7 m

Total Assets

2.5 b2.7 b829.7 m907.6 m

Accounts Payable

145.2 m194.1 m81 m83.7 m

Current Liabilities

293.1 m284.5 m203 m168.3 m

Long-term debt

8.3 m22.9 m

Total Debt

8.3 m22.9 m

Additional Paid-in Capital

403.6 m414.6 m540 m545.8 m

Retained Earnings

161.2 m118.9 m(1.2 b)(1.1 b)

Total Equity

509.3 m(659 m)(573.5 m)

Debt to Equity Ratio

0 x

Debt to Assets Ratio

0 x

Financial Leverage

5.3 x-1.3 x-1.6 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018

Cash

15.2 m20.3 m23.8 m17.2 m8.4 m5.7 m7.5 m370.6 m171.8 m73.4 m126.1 m72.3 m130.7 m

Current Assets

181.2 m172 m183.6 m180.4 m105.8 m124.3 m123.7 m438.6 m250.7 m143 m217 m165.6 m278.8 m

Total Assets

2.4 b2.5 b2.5 b2.7 b2.3 b2.1 b1.6 b1.3 b998.4 m832.6 m854.5 m875 m942.2 m

Accounts Payable

130 m115.3 m140.5 m159.6 m128.3 m135.2 m107.5 m92 m92.9 m83.3 m81.4 m58.3 m77.4 m

Short-term debt

139 m

Current Liabilities

317.3 m266 m280.9 m352.2 m202.2 m219.5 m260.1 m375 m216.8 m223 m198.7 m156.3 m171.6 m

Long-term debt

1.1 b1.3 b8.8 m8.3 m11.1 m22.9 m

Total Debt

1.1 b139 m1.3 b8.8 m8.3 m11.1 m22.9 m

Common Stock

1 k

Additional Paid-in Capital

404.6 m406.8 m410.6 m414.4 m417.3 m420 m422.6 m426 m428.6 m537.5 m541.9 m543.4 m547 m

Retained Earnings

212.6 m164.7 m166.9 m159.9 m(136.2 m)(396.7 m)(874.2 m)(1.1 b)(1.2 b)(1.2 b)(1.2 b)(1.1 b)(1.1 b)

Total Equity

547.3 m553.4 m550.2 m(788 k)(475.8 m)(714.5 m)(678 m)(632.8 m)(598 m)(544.6 m)

Financial Leverage

4.6 x4.6 x4.8 x-2.6 k x-3.4 x-1.8 x-1.2 x-1.4 x-1.5 x-1.7 x

W&T Offshore Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

51.3 m(33.4 m)(51.6 m)16.5 m

Accounts Payable

41.5 m(46.9 m)6.5 m

Cash From Operating Activities

561.4 m511.4 m132.6 m14.2 m

Cash From Investing Activities

(614.8 m)(630 m)86.1 m(82.4 m)

Cash From Financing Activities

57 m126.4 m(156.9 m)53 m

Income Taxes Paid

44.3 m3.1 m(7 k)(64.3 m)

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q1, 2018

Net Income

14.2 m11.2 m9.8 m684 k(255.1 m)(260.4 m)(477.6 m)(190.5 m)(120.9 m)45.9 m24.3 m27.6 m

Accounts Payable

140.5 m159.6 m128.3 m135.2 m107.5 m92 m92.9 m83.3 m81.4 m(688 k)

Cash From Operating Activities

75 m

Cash From Investing Activities

(41.3 m)

Cash From Financing Activities

(2.1 m)

Income Taxes Paid

120 k5.6 m11.9 m(5.2 m)

W&T Offshore Ratios

USDY, 2018

EV/EBIT

26.9 x

EV/CFO

13.9 x

Financial Leverage

-1.7 x
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