Berry Pete Corp (BRY) said before open Wednesday that it earned $0.15 per share in quarter three 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $118.8 million, missing estimates by $63.6 million.
In the same quarter a year ago, the company earned $0.55 per share on revenue of $376.4 million.
The stock is down 11.20% to $7.42 after the report.
The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.
Wall Street Analysts had an average rating of Buy on the stock prior to the report.
InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.
Berry Pete Corp has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 86, putting Berry Pete Corp in the top 25% of stocks. The firm set a 52-week low on May 31, 2023 at $6.23 and set a 52-week high on February 22, 2023 at $10.74.
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.
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Berry Pete Corp Down 11.20% To $7.42 After Earnings Miss
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