Stocks
ETFs
Options
Commodities
Crypto
Currency
Pro Newsletters
Research Tools
Daily Feeds
Calendars
Economic Indicators
Class Actions
Calculators
Education
About Us
Working with TipRanks
Follow Us
Baytex Energy Corp. (BTE)
:BTE
Holding BTE?
Track your performance easily
Earnings Data
Report Date
Feb 20, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.08Last Year’s EPS
-0.52Same Quarter Last Year
Moderate Buy
Based on 6 Analysts Ratings
---
Earnings Call Summary
Earnings Call Date:Nov 02, 2018
|% Change Since: -6.05%
|Next Earnings Date:Jul 31, 2018
Earnings Call Sentiment|Positive
The earnings call reflects a strong operational and financial performance for Baytex Energy in Q3 2024, marked by significant free cash flow generation, increased production, and operational efficiency. The company has made notable progress in reducing debt and returning value to shareholders. However, the high overall debt levels and moderated growth strategy due to current market conditions present challenges. The positive aspects of operational efficiency and shareholder returns outweigh the concerns over debt and growth moderation.Company Guidance
During the third quarter of 2024, Baytex Energy Corp. generated $220 million in free cash flow, returned $101 million to shareholders through share buybacks and dividends, and reduced net debt by 5%. Over the last five quarters, the company has returned nearly $500 million to shareholders, repurchased 75 million shares for $387 million, representing approximately 9% of the shares outstanding, and paid $92 million in total dividends. The company achieved a 10% increase in production per share compared to the third quarter of 2023, with an average production of over 154,000 BOE per day, 86% of which was oil and NGLs. The adjusted funds flow for Q3 was $538 million or $0.68 per share, with a net income of $185 million or $0.23 per share. Baytex also updated its 2024 expense guidance, projecting lower royalty rates, G&A, and current income taxes, all positively impacting adjusted funds flow and free cash flow.Strong Free Cash Flow and Shareholder Returns
Baytex Energy generated $220 million of free cash flow in Q3 2024, returned $101 million to shareholders, and reduced net debt by 5%. Over the last 5 quarters, they have returned almost $500 million to shareholders.
Increased Production and Operational Efficiency
Production per share increased by 10% year-over-year, with production averaging over 154,000 BOE per day. Operational efficiencies led to an 8% improvement in drilling and completion costs in the Eagle Ford and a 10% reduction in drilling costs in the Duvernay.
Pembina Duvernay Development Success
Production from the Pembina Duvernay increased from 4,800 BOE per day to 7,600 BOE per day. Notable enhancements led to a 40% improvement in average 30-day peak production rates compared to 2023.
Debt Reduction and Financial Stability
Net debt reduced by 5% during the quarter to $2.5 billion. Total debt-to-EBITDA ratio maintained at 1.0x.
---
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
---
BTE Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 31, 2024 | $2.81 | $2.90 | +3.20% |
| Jul 25, 2024 | $3.63 | $3.39 | -6.61% |
| May 09, 2024 | $3.68 | $3.39 | -7.88% |
| Feb 28, 2024 | $3.38 | $3.12 | -7.69% |
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 Corp. (BTE) report earnings?
Baytex Energy Corp. (BTE) is schdueled to report earning on Feb 20, 2025, TBA Not Confirmed.
What is Baytex Energy Corp. (BTE) earnings time?
Baytex Energy Corp. (BTE) earnings time is at Feb 20, 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 BTE EPS forecast?
BTE EPS forecast for the fiscal quarter 2024 (Q4) is 0.08.
---