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Dec 31, 2024
Berry Corporation Q4 2024 Earnings Report
Berry Corporation reported a slight revenue decline but maintained stable production levels with strong cash flow generation.
Key Takeaways
Berry Corporation's Q4 2024 revenue was $158 million, reflecting a 8% decline year-over-year. The company posted a net loss of $2 million but achieved an adjusted net income of $17 million. Free cash flow remained positive at $24 million, supported by stable production of 26.1 MBoe/d, a 1% increase from Q4 2023.
Total revenue for Q4 2024 was $158 million, down 8% year-over-year.
Production increased to 26.1 MBoe/d, a 1% rise from Q4 2023.
Net loss of $2 million, with an adjusted net income of $17 million.
Free cash flow remained strong at $24 million.
Revenue by Segment
Forward Guidance
Berry Corporation expects stable production for 2025 while continuing to focus on cash flow generation and capital discipline.
Positive Outlook
- Estimated 2025 production of 24.8 - 26.0 MBoe/d, with 93% oil.
- Capital expenditures planned at $110M - $120M, with flexibility for price changes.
- 40% of 2025 capital will be allocated to Utah for development expansion.
- Continued execution of high-return sidetrack drilling program.
- Strong liquidity position with $110 million available cash and credit.
Challenges Ahead
- Revenue decline due to lower realized oil prices.
- Higher lease operating expenses compared to Q3 2024.
- Debt remains at $450 million, with a leverage ratio of 1.49x.
- Market volatility in commodity prices may impact future cash flows.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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