Berry Petroleum Corp Reports Q1 Earnings

Berry Petroleum Corp. on Tuesday reported a loss of $21.3 million in its first quarter. The company said it had a loss of 27 cents per share. Earnings, adjusted for non-recurring costs, were 7 cents per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 1 cent per share. The independent upstream energy company posted revenue of $94.2 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $123.8 million.

Berry Petroleum Corp shares have increased 67% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $6.15, a climb of 87% in the last 12 months. This quarterly report represents an earnings surprise of 600%. A quarter ago, it was expected that this independent upstream energy company would post earnings of $0.15 per share when it produced earnings of $0.11, delivering a surprise of -26.67%. Over the last four quarters, the company has surpassed consensus EPS estimates just once.

Berry Petroleum Corp belongs to the Zacks Oil and Gas – Integrated United States industry, posted revenues of $94.2 million for the quarter ended March 2021, missing the Zacks Consensus Estimate by 23.89%. This compares to year-ago revenues of $339.27 million. The company has not been able to beat consensus revenue estimates over the last four quarters. The shares have added about 70.8% since the beginning of the year versus the S&P 500’s gain of 11.6%. The company’s market cap is $ 502,378,905 and has a PE ratio of 0.00. The stock price closed yesterday at $ 6.28 and has a 52 week low/high of $ 2.52 and $ 6.70.