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Baytex Energy (TSE:BTE)
TSX:BTE
Earnings Data
Report Date
May 07, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.03Last Year’s EPS
0.09Same Quarter Last Year
Based on 6 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a largely positive strategic and financial story: Baytex completed a transformational Eagle Ford divestiture, emerged with a net cash balance and strong liquidity, produced robust adjusted funds flow and free cash flow, and demonstrated meaningful operational momentum (notably a 46% Q4 Duvernay increase and 6% organic Canadian growth in 2025). The company has clear optionality to accelerate growth, active buybacks and a commitment to shareholder returns. Key negatives are the GAAP net loss of $604 million driven by disposition-related charges and a $148 million Viking impairment, Q4 nonrecurring costs, and ongoing commodity-price sensitivity (hedges rolling off mid-year). On balance, the operational progress, cash generation, and balance sheet improvement outweigh the one-time accounting charges and commodity uncertainty.Company Guidance
Strategic Repositioning & Leadership Transition
Closed the Eagle Ford sale in December and repositioned Baytex into a focused, high-return Canadian oil producer; formal CEO succession announced with Chad Lundberg to succeed Eric Greager to ensure continuity of strategy.
Strong Cash Generation (2025)
Generated $1.5 billion of adjusted funds flow for the full year and $270 million of free cash flow; Q4 adjusted funds flow was $262 million and Q4 free cash flow $76 million (which included $35 million of nonrecurring disposition expenses).
Balance Sheet Strength & Shareholder Returns
Exited 2025 with net cash/no net debt and approximately $857 million in cash (less bonds); $750 million credit facility fully undrawn. Since late December repurchased ~30 million shares (~4% of the company) for >$141 million via NCIB; continue to target buybacks and maintain an annual dividend of $0.09 per share.
Production & Organic Growth
Canadian portfolio delivered 65,500 BOE/day in 2025 and achieved ~6% organic production growth year-over-year (excluding dispositions). 2026 guidance of 67,000–69,000 BOE/day (3%–5% growth) remains unchanged; high end represents ~5% organic growth year-over-year.
Duvernay Commercialization & Efficiency Gains
Assembled 91,500 net acres with ~210 identified drilling locations. Duvernay production grew to 10,600 BOE/day in Q4, a 46% increase versus Q4 2024. Transitioning to commercialization with plans to bring 12 Duvernay wells onstream in 2026 (a 50% increase vs 2025); reported reduced well costs and improved play characterization (company cited ~11% reduction in capital cost and ~11% improvement in characterization in 2024).
Heavy Oil Inventory & Development
Heavy oil portfolio comprises ~750,000 net acres and ~1,100 drilling locations ( ~12 years of drilling at current pace). Expect to bring 91 heavy oil wells onstream in 2026; active exploration (strat tests, step-outs, 3D seismic) and two Peavine waterflood pilots planned to test enhanced recovery potential.
Capital Program & Optionality
Invested $548 million in Canada in 2025. 2026 budgeted capital program $550–$625 million (sustaining $435M; growth $50M; infrastructure $50M; exploration $50M). Company emphasizes flexibility and optionality to expand growth if macro conditions support it.
TSE:BTE Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
TSE:BTE Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 04, 2026 | C$5.43 | C$5.43 | 0.00% |
Oct 30, 2025 | C$3.15 | C$3.37 | +6.95% |
Jul 31, 2025 | C$2.90 | C$2.86 | -1.38% |
May 05, 2025 | C$2.08 | C$2.05 | -1.40% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Baytex Energy (TSE:BTE) report earnings?
Baytex Energy (TSE:BTE) is schdueled to report earning on May 07, 2026, Before Open (Confirmed).
What is Baytex Energy (TSE:BTE) earnings time?
Baytex Energy (TSE:BTE) earnings time is at May 07, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TSE:BTE EPS forecast?
TSE:BTE EPS forecast for the fiscal quarter 2026 (Q1) is 0.03.