Berry Corporation Stock Price, News & Analysis

Berry Corporation (BRY) reported a net loss of $21 million or $0.27 per diluted share for Q1 2021, with an Adjusted Net Income of $6 million or $0.07 per share. The Board declared a $0.04 quarterly dividend for Q2 2021, payable on July 15, 2021. Highlights include an Adjusted EBITDA of $52 million, a 3% increase in oil production to 23,900 bbl/d, and reduced non-energy operating expenses by 11%. The company ended Q1 with $99 million in cash and an overall liquidity of $292 million.

Berry Corporation (BRY) announced it will release its first quarter 2021 financial results on May 4, 2021, after U.S. market close. A conference call to discuss these results is set for May 5, 2021, at 9 AM ET. Preliminary figures indicate an expected Adjusted EBITDA of $46 million to $48 million, driven by improving production and higher crude oil prices. Total production is projected at 27,000 to 27,200 boe/d. Capital expenditures for the quarter are estimated between $24 million and $26 million for drilling operations in California.

Berry Corporation (BRY) reported its Q4 and full-year 2020 results, revealing a net loss of $263 million for the year and $64 million for Q4. Adjusted Net Income was $45 million for the year and $9 million for Q4. The board approved a first-quarter dividend of $0.04 per share. In 2020, the company generated $131 million in Levered Free Cash Flow and ended the year with $80 million in cash. With capital expenditures of $69 million, primarily in California, Berry aims to maintain production levels in 2021 while focusing on cost efficiency and cash flow management.

Berry Corporation (BRY) announced it will report its fourth quarter and full-year 2020 financial results on February 23, 2021, after U.S. markets close. A conference call to discuss the results is scheduled for February 24, 2021, at 9:00 a.m. Eastern Time. Investors can join the call by dialing 877-491-5169 from the U.S. or 720-405-2254 internationally, using passcode 1256432. The call will also be available via a live audio webcast on Berry's website. Replay options will be available until March 10, 2021. Berry focuses on long-lived oil reserves in California's San Joaquin basin.

Berry Corporation (BRY) reported a net loss of $19 million or $0.24 per diluted share for Q3 2020, despite an Adjusted Net Income of $13 million. The company generated $48 million of Levered Free Cash Flow and built cash reserves of nearly $50 million. Adjusted EBITDA increased by 9% to $62 million, attributed to cost savings and improved oil price realizations. However, production decreased by 5% due to paused drilling activities and operational improvements. The company maintains liquidity of $192 million and plans to keep production flat for 2021.

Berry Corporation (NASDAQ:BRY) has announced it will release its third quarter 2020 financial results on November 3, 2020, after the close of U.S. financial markets. The company will hold a conference call on November 4, 2020, at 9:00 a.m. ET to discuss these results. Investors can join the call by dialing 877-491-5169 (U.S.) or 720-405-2254 (international). A live audio webcast will be available on Berry’s website, and a replay will be accessible until November 18, 2020.

Berry Corporation (BRY) announced the appointment of Fernando Araujo as Executive Vice President and Chief Operating Officer, effective immediately. Araujo, a seasoned professional with 30 years of experience from major companies like Shell and Schlumberger, succeeds retiring COO Gary Grove. His vast expertise includes overseeing significant production levels across multiple countries. CEO Trem Smith expressed confidence that Araujo’s entrepreneurial spirit will enhance Berry's operations, improve efficiencies, and contribute to shareholder value amidst ongoing environmental initiatives.

Berry Corporation (BRY) reported a net loss of $65 million ($0.81 per diluted share) for Q2 2020, contrasting with an Adjusted Net Income of $5 million ($0.06 per diluted share>. The Adjusted EBITDA was $57 million, down from $72 million in Q1 due to low oil prices and demand disruption from COVID-19. The company achieved a 16% reduction in unhedged operating expenses and generated positive Levered Free Cash Flow. Production declined by 5%, with capital expenditures down by 58%. Berry anticipates ongoing market challenges but remains focused on maintaining cash flow and liquidity.

Berry Corporation (BRY) announced that it will report its second quarter 2020 financial results on August 4, 2020, after the U.S. markets close. A conference call to discuss these results is scheduled for August 5, 2020, at 9:00 a.m. Eastern Time (6:00 a.m. Pacific Time). Interested parties can join the call by dialing 877-491-5169 in the U.S. or 720-405-2254 internationally. An audio webcast will be available on Berry's website, with a replay accessible until August 26, 2020.