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Mar 31, 2025
Berry Corporation Q1 2025 Earnings Report
Reported first quarter 2025 financial and operational results and reaffirmed FY25 guidance
Key Takeaways
Berry Corporation reported a net loss of $97 million in Q1 2025, impacted by a non-cash impairment. Despite this, the company generated positive operating cash flow, Adjusted EBITDA, and Free Cash Flow. Production was in line with plans, and the company maintained a strong hedge position and increased liquidity while reducing debt.
Reported a net loss of $97 million, including a non-cash impairment of $113 million.
Generated Adjusted Net Income of $9 million, or $0.12 per diluted share.
Produced 24.7 MBoe/d (93% oil), slightly down due to planned downtime for drilling.
Increased liquidity to $120 million and paid down $11 million of total debt.
Revenue by Segment
Forward Guidance
Berry Corporation reaffirmed its full year 2025 guidance, expecting to fund its capital program with cash flow from operations due to its strong hedge position and low-breakeven assets.
Positive Outlook
- Reaffirmed full year 2025 guidance.
- Cash flow protected by strong hedge position.
- Strategy anchored by shallow decline rate and low capital intensity assets.
- High rate of return development.
- Expects to fully fund the 2025 plan at prices well below current levels.
Challenges Ahead
- Guidance is subject to market volatility.
- Achieving guidance depends on successful execution of drilling programs.
- Regulatory environment and permitting could impact results.
- Changes in supply and demand for oil and gas could affect performance.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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