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Berry Petroleum Corp (BRY)
NASDAQ:BRY
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Earnings Data
Report Date
Feb 25, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.16Last Year’s EPS
0.13Same Quarter Last Year
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 07, 2018
|% Change Since: -9.75%
|Next Earnings Date:Aug 22, 2018
Earnings Call Sentiment|Neutral
The earnings call presents a generally positive outlook with significant achievements in operational performance, successful debt refinancing, and environmental goals. However, these are tempered by challenges such as decreased crude prices, a slight production dip, and a cut in dividend payouts.Company Guidance
During the Q3 2024 earnings call for Berry Corporation (BRY), the company provided detailed guidance on several key metrics and strategic initiatives. Berry reported a total production average of 24,800 barrels of oil equivalent per day, which was a slight decrease from the previous quarter due to delays in connecting new wells. The company announced a successful debt refinancing with a new $545 million term loan facility, aiming to redeem outstanding notes and replace the current RBL facility. The term loan allows for a new capital allocation approach that targets a fixed dividend rate of $0.12 per share annually, with a declared $0.03 per share fixed dividend for Q3 2024. The company also highlighted its methane reduction achievements and plans to maintain stable production through 2026, with 48 wells drilled year-to-date and significant returns from sidetrack wells in the thermal diatomite reservoir. Berry's capital expenditures for Q3 were $26 million, contributing to a year-to-date total of $85 million, and they remain within the guidance range of $95 million to $110 million for the year. Free cash flow increased by 55% over Q2, reaching $45 million. Berry is optimistic about its future, focusing on unlocking value in the Uinta Basin and leveraging its low-cost position in Utah to pursue further development opportunities.Successful Debt Refinancing
Berry signed a new $545 million term loan credit facility to redeem outstanding notes due in 2026, replacing the current RBL facility.
Strong Operational Performance in California and Utah
Production from sidetrack wells in California's thermal diatomite reservoir exceeded expectations with returns greater than 100%. Utah's Uinta Basin wells showed an average gross peak production rate of approximately 1,100 barrels of oil equivalent per day per well.
Methane Emission Reduction Achievement
The company achieved an 80% reduction in methane emissions ahead of the 2025 schedule, saving over $2.9 million in waste emission charges.
Increased Free Cash Flow
Free cash flow increased by 55% over Q2, reaching $45 million due to reduced capital expenditures.
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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 |
|---|---|---|---|
| Nov 07, 2024 | $5.54 | $5.03 | -9.21% |
| Aug 09, 2024 | $5.86 | $5.79 | -1.19% |
| May 01, 2024 | $8.07 | $7.63 | -5.45% |
| Mar 06, 2024 | $6.35 | $6.49 | +2.20% |
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 Feb 25, 2025, TBA Not Confirmed.
What is Berry Petroleum Corp (BRY) earnings time?
Berry Petroleum Corp (BRY) earnings time is at Feb 25, 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 2024 (Q4) is 0.16.
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