Australia's Beach Energy tumbles as results, production forecast miss the mark

Beach Energy

05/02/2025 23:26

** Shares of Beach Energy  BPT.AX  fall 3.6% to A$1.46,
heading for their strongest drop since December 9, if losses
hold
    ** Oil and gas explorer fell as much as 4.6% earlier in the
day, hitting lowest level since January 13
    ** Company posts HY underlying NPAT of A$237 million
($148.88 million), missing Citi's and Jarden's estimates
    ** Declares interim dividend of 3.0 Australian cents per
share, missing a Jarden estimate of 6.0 AU cents per share
    ** Co narrows its FY25 production outlook to between 18.5 to
20.5 MMboe from earlier forecast of 17.5 to 21.5 MMboe
    ** Jarden analysts say they were expecting production
forecast towards the upper end of the prior range
    ** Stock up 8.6% this year, as of last close
   


($1 = 1.5918 Australian dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com))