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Berry Petroleum Corp (BRY)
NASDAQ:BRY
Earnings Data
Report Date
Apr 30, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.11Last Year’s EPS
0.14Same Quarter Last Year
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Mar 12, 2025
|% Change Since: -7.48%
|Next Earnings Date:Apr 30, 2025
Earnings Call Sentiment|Positive
The earnings call reflects a positive sentiment with strong financial performance in 2024, successful drilling results, and significant reserve additions. The company managed costs effectively and achieved substantial environmental goals. However, dependency on permitting processes and market volatility are challenges that could impact future operations.Company Guidance
During the Berry Corporation Q4 and Full Year 2024 Earnings Conference call, the company provided a comprehensive update on its financial and operational performance, as well as strategic initiatives for 2025. Berry reported an adjusted EBITDA of $292 million for 2024, marking a 9% increase from the previous year. The company successfully maintained its average annual production at 25,400 barrels of oil equivalent per day, nearing the top of its guidance range, despite a 35% decline in California's statewide oil production over the past six years. Berry drilled 56 gross wells in 2024 and plans to sustain production by drilling approximately 50 gross wells in 2025. The company achieved a reserve replacement ratio of 147%, with total proved reserves of 107 million barrels of oil equivalent valued at $2.3 billion. Berry highlighted its strategic focus on capital efficiency, cost reduction, and sustainability, including an 80% reduction in methane emissions compared to a 2022 baseline. Despite regulatory challenges, the company expressed confidence in its ability to sustain production and generate value for shareholders through its robust inventory of high-return projects and strategic flexibility.Strong Financial Performance in 2024
Berry Corporation reported $292 million of adjusted EBITDA, a 9% increase from 2023, and generated $108 million in free cash flow for the year.
Successful Drilling and Production
Berry drilled a total of 56 gross wells in 2024, including 46 in California and 10 in Utah, maintaining an average annual production of 25,400 barrels of oil equivalent per day, which is near the top of their guidance range.
Significant Reserve Replacement Ratio
The company achieved a 147% reserve replacement ratio, adding reserves in both California and the Uinta Basin, with a total proved reserves of 107 million barrels of oil equivalent.
Cost Management and Efficiency Improvements
Berry reduced hedged LOE by 12% and adjusted G&A by more than 6% year over year, and achieved a significant cost advantage in the Uinta Basin with development wells being approximately 20% less expensive per foot than other operators.
Environmental Achievements
Berry completed a methane emissions reduction project, achieving more than an 80% reduction compared to a 2022 baseline, and plans to launch further environmental initiatives in 2025.
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BRY 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
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BRY Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Mar 12, 2025 | $3.61 | $3.19 | -11.63% |
| Nov 07, 2024 | $5.49 | $4.98 | -9.29% |
| Aug 09, 2024 | $5.81 | $5.74 | -1.20% |
| May 01, 2024 | $8.00 | $7.57 | -5.37% |
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.
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FAQ
When does Berry Petroleum Corp (BRY) report earnings?
Berry Petroleum Corp (BRY) is schdueled to report earning on Apr 30, 2025, TBA Not Confirmed.
What is Berry Petroleum Corp (BRY) earnings time?
Berry Petroleum Corp (BRY) earnings time is at Apr 30, 2025, TBA Not 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 BRY EPS forecast?
BRY EPS forecast for the fiscal quarter 2025 (Q1) is 0.11.
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