W&T Offshore, Inc. (NYSE:WTI ) Q4 2024 Earnings Conference Call March 4, 2025 10:00 AM ET Company Participants Al Petrie - Investor Relations Coordinator Tracy Krohn - Chairman & CEO William Williford - Executive Vice President and Chief Operating Officer Sameer Parasnis - Executive Vice President and Chief Financial Officer Trey Hartman - Vice President and Chief Accounting Officer Conference Call Participants John White - ROTH Capital Jeff Robertson - Water Tower Research Operator Ladies and gentlemen, thank you for standing by. Welcome to the W&T Offshore Fourth Quarter and Full Year 2024 Conference Call.
W&T Offshore (WTI) came out with a quarterly loss of $0.18 per share in line with the Zacks Consensus Estimate. This compares to loss of $0.06 per share a year ago.
Oil markets are under strong pressure as traders focus on rising supply.
Oil traders are worried that tariffs would hurt demand for oil.
Oil markets ignored Trump's plans to impose 10% tariffs on China.
Looking beyond Wall Street's top -and-bottom-line estimate forecasts for W&T (WTI), delve into some of its key metrics to gain a deeper insight into the company's potential performance for the quarter ended December 2024.
Trump's tariff threats served as an additional bearish catalyst for oil markets.
Gasoline inventories increased by 0.4 million barrels from the previous week.
Disappointing economic reports and tariff threats pushed oil markets to new lows.
Oil markets try to gain upside momentum after the recent sell-off.
W&T (WTI) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Last September, I recommended going long on SM Energy due to its favorable fundamentals and correlation with WTI oil prices, resulting in a +10% rally by year-end. Currently, technical analysis suggests WTI crude oil is in a downtrend, likely to retest support levels around $67.5/barrel. Geopolitical factors, including OPEC's production decisions, potential easing of sanctions on Russia, and global economic conditions, create downward pressure on oil prices.