Berry Corporation Stock Price, News & Analysis

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.

Berry Corporation (BRY) announced the completion of its semi-annual bank redetermination, reducing its RBL elected commitment to $200 million, resulting in $1 million annual savings. The company maintains no outstanding borrowings on its credit line, which is primarily used for working capital. Additionally, Berry has hedged over 14,300 barrels per day at approximately $46 Brent for the first half of 2021, enhancing its financial visibility. This proactive approach aims to strengthen its position amid a low-price environment and achieve efficient operations.

Berry Corporation (BRY) reported a net loss of $115 million or $1.45 per diluted share for Q1 2020, while Adjusted Net Income was $18 million or $0.23 per diluted share. The company faced challenges due to COVID-19 and OPEC+ dynamics, impacting oil prices and demand. However, they achieved an Adjusted EBITDA of $72 million and maintained liquidity with $382 million available under their revolver. Production averaged 30,800 Boe/d with capital expenditures at $39 million. The management emphasized a strong balance sheet and proactive measures to navigate the downturn.