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 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.