Berry Corporation - BRY STOCK NEWS

Berry (NASDAQ: BRY) has issued a correction notice regarding the dividend record date and payment date announced in their August 9, 2024 press release. The dividends totaling $0.17 per share on outstanding common stock, comprising a fixed dividend of $0.12 and a variable dividend of $0.05, will now be payable on August 30, 2024, to stockholders of record as of the close of business on August 23, 2024. This corrects the previously disclosed dates of August 20, 2024, for payment and August 12, 2024, for record. The dividend amounts remain unchanged. The variable dividend is based on cumulative Adjusted Free Cash Flow results for the six months ended June 30, 2024.

Berry (NASDAQ: BRY) reported strong Q2 2024 financial and operational results, declaring quarterly dividends of $0.17 per share. Key highlights include:

• Production of 25,300 Boe/d, flat to Q1 and above midpoint of 2024 guidance
• 11% sequential decrease in Lease Operating Expenses
• Four horizontal farm-in wells in Uinta Basin's Uteland Butte reservoir performing above estimates
• Zero recordable incidents for third consecutive quarter
• Adjusted EBITDA of $74 million, up 7% from Q1 2024
• Cash Flow from Operations of $71 million
• Adjusted Free Cash Flow of $19 million

The company is focused on generating sustainable free cash flow, optimizing costs, and maintaining balance sheet strength while meeting compliance standards.

Berry (NASDAQ: BRY) has announced it will report its second quarter 2024 results on Friday, August 9, 2024, before the U.S. financial markets open. The company will host a conference call and webcast on the same day to discuss these results. The earnings call is scheduled for 8:30 am Eastern Time (7:30 am Central Time / 5:30 am Pacific Time).

Interested parties can join the live audio webcast or preregister to ask questions on the live call. A web-based audio replay will be available shortly after the broadcast and will be archived on the company's website.

Berry reported first quarter 2024 financial results, achieving solid operational and financial performance. The company produced 25,400 boe/d, declared a fixed dividend of $0.12 per share, acquired greenhouse gas allowances at a discount, signed an agreement for horizontal wells in Utah, and acquired working interest in Kern County, CA. The company maintained strong safety records, issued a Sustainable Business Report, and set goals for methane emissions reduction. Despite a net loss, the company had resilient results with adjusted EBITDA of $69 million. Berry's CFO highlighted cost management savings and plans for debt reduction. Key financials included $166 million in revenues, $11 million in adjusted net income, $27 million cash flow from operations, and $69 million in adjusted EBITDA for the first quarter of 2024. The company maintained liquidity of $149 million as of March 31, 2024. Quarterly dividends of $0.12 per share were declared, payable on May 24, 2024. The company will host an earnings conference call on May 1, 2024.

Berry (BRY) to Report First Quarter 2024 Results on May 1, 2024

Berry Corporation (BRY) announced its fourth quarter and full-year 2023 results, showcasing solid financial performance despite challenges in the energy market. The company reported net income of $63 million for Q4 2023 and $37 million for the full year, with Adjusted Net Income of $10 million and $39 million, respectively. Berry delivered $65 million in shareholder returns, acquired new working interests, and maintained production levels. The company's strategy for 2024 focuses on sustainable free cash flow and value enhancement.

Berry Corporation (NASDAQ: BRY) announced preliminary full year 2023 production and year-end proved reserves data. The company completed a small-scale acquisition and reduced revolver debt in the fourth quarter 2023. Total production for the full year 2023 is estimated to be approximately 25,300 boe/d.

Berry Corporation (bry) announced third quarter 2023 results, including a net loss of $45 million or $0.60 per diluted share. Adjusted Net Income was $12 million or $0.15 per diluted share. The company generated Adjusted EBITDA of $70 million and cash flow from operating activities of $55 million. They produced 25,300 boe/d, higher than the first half of 2023 but ~30% lower than planned annual capital expenditures. Berry also closed on an oil producing acquisition at the end of the quarter.

Berry Corporation (bry) will report its Q3 2023 financial results on November 1, 2023, before the open of U.S. financial markets. A conference call will be held later that morning to discuss these results.