Barnwell Q1 net earnings flat at $0.11/share; oil & gas revenues up 33%; declares dividend

BARNWELL INDUSTRIES INC

2023-Q1 EPS reported $0.11 revenue$7,511,000

Net earnings: $1,089,000 ($0.11 per share) for Q1 ended Dec 31, 2022, compared to $1,073,000 ($0.11) in prior-year quarter.
Oil & gas segment revenues increased over $1,300,000 (33%) due to higher oil, natural gas, and NGL prices and increased production.
Board declared cash dividend of $0.015 per share payable March 13, 2023 to holders of record Feb 23, 2023.
Company entered cooperation agreement with MRMP Stockholders extending standstill for two years, ending potential proxy contest at 2023 annual meeting.
New board members appointed Feb 9: Joshua S. Horowitz and Laurance E. Narbut; Kenneth S. Grossman named Chairman, Douglas N. Woodrum chair of Audit and Nominating.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BARNWELL INDUSTRIES INC reported the three months ended December 31, 2022 results: net income $1,089,000, EPS $0.11 per share.

Period: the three months ended December 31, 2022
Net income: $1,089,000
EPS: $0.11 per share
Result: reported results

Exact text from the filing

Barnwell Industries, Inc. (NYSE American: BRN) today reported net earnings of $1,089,000, $0.11 per share, for the three months ended December 31, 2022, as compared to net earnings of $1,073,000, $0.11 per share, for the three months ended December 31, 2021.

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Source: SEC EDGAR

accession 0001140361-23-005937

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