Berry Full Year 2024 Earnings: Revenues Beat Expectations, EPS Lags

Simply Wall St.03-14

Berry (NASDAQ:BRY) Full Year 2024 Results

Key Financial Results

Revenue: US$783.8m (down 9.2% from FY 2023).
Net income: US$19.3m (down 49% from FY 2023).
Profit margin: 2.5% (down from 4.3% in FY 2023).
EPS: US$0.25 (down from US$0.49 in FY 2023).

BRY Production and Reserves

Oil reserves

Proven reserves: 103 MMbbls.

Gas reserves

Proven reserves: 18 Bcf.

LNG reserves

Proven reserves: 1 MMbbls.

Combined production

Oil equivalent production: 9.291 MMboe (9.258 MMboe in FY 2023).

NasdaqGS:BRY Revenue and Expenses Breakdown March 14th 2025

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

Berry Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 10%. Earnings per share (EPS) missed analyst estimates by 38%.

The primary driver behind last 12 months revenue was the E&P segment contributing a total revenue of US$672.0m (86% of total revenue). The largest operating expense was Depreciation & Amortisation (D&A) costs, amounting to US$172.0m (40% of total expenses). Explore how BRY's revenue and expenses shape its earnings.

Looking ahead, revenue is expected to decline by 7.8% 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 3.9%.

Performance of the American Oil and Gas industry.

The company's shares are down 6.7% from a week ago.

Risk Analysis

You should always think about risks. Case in point, we've spotted 4 warning signs for Berry you should be aware of, and 1 of them is potentially serious.

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