Berry First Quarter 2024 Earnings: Misses Expectations

Berry (NASDAQ:BRY) First Quarter 2024 Results

Key Financial Results

• Revenue: US$202.3m (down 6.5% from 1Q 2023).
• Net loss: US$40.1m (loss widened by US$34.2m from 1Q 2023).
• US$0.53 loss per share (further deteriorated from US$0.077 loss in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Berry Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 25%. Earnings per share (EPS) was also behind analyst expectations.

Looking ahead, revenue is expected to decline by 11% p.a. on average during the next 2 years, while revenues in the Oil and Gas industry in the US are expected to grow by 2.0%.

Performance of the American Oil and Gas industry.

The company's shares are down 9.3% from a week ago.

Risk Analysis

Don't forget that there may still be risks. For instance, we've identified 4 warning signs for Berry (1 can't be ignored) you should be aware of.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.