Australia's Beach Energy down; Q4 sales below Citi's estimates

Beach Energy

19/07/2024 05:46

** Shares of Beach Energy  BPT.AX  down 1.3% to A$1.54, on
track for their worst day since July 12, if losses hold
   ** BPT reports Q4 sales revenue of A$433 million ($290.11
million), 7% below brokerage Citi's estimate
   ** Citi says quarterly sales volume of 5.4 MMboe missed its
5.9 MMboe estimate due to timing of cargoes
   ** Co's production, however, was in line with both Citi and
consensus estimates - Citi 
    ** "The recent rally following the strategy day's
share-price trough is highly attributable to the broader Energy
sector rally, with BPT a slight laggard", says Citi
    ** Stock has fallen 2.5% this year, as of last close


($1 = 1.4925 Australian dollars)

 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com))