Berry Full Year 2023 Earnings: Beats Expectations
Berry (NASDAQ:BRY) Full Year 2023 Results
Key Financial Results
Revenue: US$903.5m (down 14% from FY 2022).
Net income: US$37.4m (down 85% from FY 2022).
Profit margin: 4.1% (down from 24% in FY 2022). The decrease in margin was primarily driven by lower revenue.
EPS: US$0.49 (down from US$3.19 in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Berry Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 22%. Earnings per share (EPS) also surpassed analyst estimates.
Looking ahead, revenue is expected to decline by 7.5% 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 1.8%.
Performance of the American Oil and Gas industry.
The company's share price is broadly unchanged from a week ago.
Risk Analysis
You should learn about the 3 warning signs we've spotted with Berry (including 2 which shouldn't be ignored).
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
