Berry posts Q3 loss due to oil and gas sales derivatives losses

Berry (Bry)

05/11/2025 14:09

Overview

Berry reports Q3 net loss of $26 mln vs yr-ago profit

Company says registration statement related to merger agreement with California Resources went live on Nov 3

Berry paid down $11 mln of debt in Q3, total debt reduction $34 mln year-to-date

Outlook

Berry has discontinued providing guidance due to pending merger with CRC

Result Drivers

STABLE PRODUCTION - Berry maintained production at 23.9 MBoe/d, consistent with the previous quarter

DERIVATIVE LOSSES - Losses on oil and gas sales derivatives negatively impacted financial results

DEBT REDUCTION - Berry reduced total debt by $11 mln in Q3, focusing on financial stability

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Adjusted EPS
Miss
-$0.08
$0.06 (3 Analysts)
Q3 EPS
-$0.34
Q3 Adjusted Net Income
-$6 mln
Q3 Net Income
-$26 mln
Q3 Adjusted EBITDA
$49 mln
Q3 Capex
$17 mln
Q3 Dividend
$0.03
Q3 Free Cash Flow
$38 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the oil & gas exploration and production peer group is "buy"

Wall Street's median 12-month price target for Berry Corporation (Bry) is $4.50, about 26.2% above its November 4 closing price of $3.32

The stock recently traded at 56 times the next 12-month earnings vs. a P/E of 31 three months ago

Press Release: ID:nGNX8TWvW

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)