Berry Corp Q1 net loss $40M; adjusted EPS $0.14; production 25.4K boe/d above guidance

Berry Corp (bry)

2024-Q1 EPS reported -$0.53 revenue$202,311,000

Net loss of $40M ($0.53 diluted loss) vs net loss $6M YoY; adjusted net income $11M ($0.14) vs $5M.
Revenue $166M flat YoY; production 25,400 boe/d, above 2024 guidance midpoint of 25,200 boe/d.
Declared Q1 fixed dividend of $0.12/share; signed farm-in for four Utah horizontal wells expected on production by June 2024.
Acquired all 2024 CA GHG allowances at 7% discount; follow-on acquisition of ~100 boe/d in Kern County in process.
Zero recordable/lost-time incidents for second consecutive quarter; issued 2023 sustainability report with 80% methane reduction goal.

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

Berry Corp (bry) reported financial results for the three months ended March 31, 2024.

Period: the three months ended March 31, 2024
Result: reported results

Exact text from the filing

On May 1, 2024, Berry Corporation (bry) (the “Company”) issued a press release announcing its financial condition and results of operations for the three months ended March 31, 2024.

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Source: SEC EDGAR

accession 0001705873-24-000030

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