Berry Corporation (Bry) (BRY) missed earnings projections on 3/6/2024 for Q4 2023.
Berry Pete Corp's earnings came in at an EPS of $0.13 per share, 46% lower than estimates for an EPS of $0.24 per share. The firm's earnings are down 86% since reporting $0.95 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.
Revenues were upbeat at $300.3 million. That is an increase of 54.26% in revenues from the year-ago report and is 64.68% higher than consensus estimates set at $182.4 million.
The stock is up 1.81% to $7.05 after the report.
Despite revenues increasing, earnings decreased, signaling a decline in profit margins.
The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.
InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.
Berry Pete Corp has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 10, putting Berry Pete Corp in the bottom 25% of stocks. The firm was recently trading at a 52-week low of $6.22 on February 5, 2024 and set a 52-week high on March 7, 2023 at $9.6.
Berry Corp (bry) is a western United States independent upstream energy company with a focus on the conventional, long-lived oil reserves in the San Joaquin basin of California. The business activities of the group include development and production of conventional oil reserves.