Reports Q3 revenue $118.802M, consensus $182.43M. “In the third quarter, we generated meaningful free cash flow and returned it to our shareholders through dividends and closing an acquisition that we expect will enhance our financial results going forward,” said Fernando Araujo, Berry’s CEO. “We have successfully integrated the Macpherson business and have identified and already started implementing cost reduction initiatives which we expect will enhance our free cash flows even more than originally indicated. Moreover, we are aggressively pursuing scale through accretive M&A, especially outside of California, in all cases to enhance our ability to generate sustainable free cash flow.”
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on BRY:
- Berry Corporation Reports Third Quarter 2023 Results
- Berry Corporation to Report Third Quarter 2023 Results and Hold Conference Call November 1
- Berry Corporation Completes Acquisition of Macpherson Energy Corporation, Updates Annual Guidance
- Berry Corporation raises FY23 average daily boe/d to 24,800 to 25,400
- Berry Corporation completes acquisition of Macpherson Energy
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue