Barnwell Industries Q3 net loss $717k vs prior-year profit; declares $0.015 dividend

BARNWELL INDUSTRIES INC

2023-Q3 EPS reported -$0.09 revenue$18,425,000

Net loss of $717k ($0.07 per share) for Q3 ended June 30, 2023, vs net earnings of $2,531k ($0.25) in prior year.
Oil, natural gas, and NGL prices fell 37%, 72%, and 46% YoY, driving the loss; equity income from affiliates down $433k.
Production increased: oil +13%, natural gas +30%, NGL +23% YoY, aided by new Permian Basin and Twining wells.
Board declared a cash dividend of $0.015 per share, payable Sept 11, 2023 to holders of record Aug 24, 2023.
Working capital $1,581k, cash $2,572k; management cites improved commodity pricing and Twining development for future results.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BARNWELL INDUSTRIES INC reported the three and nine months ended June 30, 2023 results: net income net losses of $717,000, $0.07 per share, and $865,000, $0.09 per share, for the three and nine months ended June 30, 202, EPS $0.07 per share, and $0.09 per share.

Period: the three and nine months ended June 30, 2023
Net income: net losses of $717,000, $0.07 per share, and $865,000, $0.09 per share, for the three and nine months ended June 30, 202
EPS: $0.07 per share, and $0.09 per share
Result: reported results

Exact text from the filing

Barnwell Industries, Inc. (NYSE American: BRN) today reported net losses of $717,000, $0.07 per share, and $865,000, $0.09 per share, for the three and nine months ended June 30, 2023, respectively

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Source: SEC EDGAR

accession 0001140361-23-039317

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