DALLAS (AP) _ Berry Petroleum Corp. (BRY) on Wednesday reported second-quarter net income of $32 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Dallas-based company said it had net income of 39 cents. Earnings, adjusted for non-recurring gains, came to 25 cents per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 36 cents per share.
The independent upstream energy company posted revenue of $170.1 million in the period, beating Street forecasts. Three analysts surveyed by Zacks expected $148.7 million.
Berry Petroleum shares have increased slightly more than 1% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $8.86, a fall of 34% in the last 12 months.