Core Viewpoint - Bri-Chem Corp. reported a significant decline in financial performance for Q3 2024, primarily due to decreased US drilling activities and a lower average rig count, leading to reduced sales and earnings across its divisions [1][3][9]. Financial Performance - Consolidated sales for Q3 2024 were $21.975 million, an 18% decrease from $26.83 million in Q3 2023, attributed to lower US drilling activity [2][5]. - Adjusted EBITDA for Q3 2024 was $587 thousand, down 44% from $1.051 million in the same period last year, with EBITDA as a percentage of revenue decreasing from 4% to 3% [2][8]. - Operating earnings for Q3 2024 were $234 thousand, a decrease of 80% from $1.185 million in Q3 2023 [2][4]. - The adjusted net loss per diluted share for Q3 2024 was $0.02, compared to a loss of $0.01 per diluted share in the same period last year [2][4]. Segment Performance - The Canadian drilling fluids distribution division generated sales of $3.8 million in Q3 2024, slightly down from $3.9 million in Q3 2023, reflecting a slowdown in select commodity items [6]. - The US drilling fluids distribution division saw sales drop to $11.7 million in Q3 2024 from $15.5 million in Q3 2023, a decrease of 24%, due to a decline in the US rig count [6]. - The Canadian blending and packaging division reported an increase in sales to $4.6 million in Q3 2024 from $3.9 million in Q3 2023, driven by higher cementing and stimulation activities [7]. Financial Position - As of September 30, 2024, working capital was $13.74 million, down 14% from $16 million a year earlier, primarily due to an increase in accounts payable [5]. - Total assets decreased to $57.1 million from $70.5 million, a decline of 19% year-over-year [2]. Industry Outlook - The oil and gas industry faces challenges such as volatile commodity prices and restrained growth in US drilling activity, with major companies focusing on returning cash to shareholders rather than increasing production [9]. - There is optimism for fiscal 2025, contingent on stabilized commodity prices and favorable drilling policies following recent US election results [9].

Berry Corporation (NASDAQ:BRY) Q3 2024 Earnings Conference Call November 7, 2024 11:00 AM ET Company Participants Todd Crabtree - Investor Relations Fernando Araujo - Chief Executive Officer & Director Danielle Hunter - President Michael Helm - VP, Chief Financial Officer & Chief Accounting Officer Conference Call Participants Charles Meade - Johnson Rice Michael Schwartz - Jefferies Jay Spencer - Stifel Nicolaus Operator Welcome to the Berry Corporation Q3 2024 Earnings Call. At this time, all speakers are ...

FOCUSED A Western US Energy Company 2024 Q3 Earnings November 7, 2024 - Investor Presentation Scan with phone camera to browse to IR Reports Page bry.com ir@bry.com 661-616-3811 1 Disclaimer The information in this document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this document that address plans, activities, events, objecti ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from_______________ to _______________ Commission file number 001-38606 Berry Corporation (bry) (Exact name of registrant as specified in its charter) Delaware (State of ...

PRESS RELEASE For Immediate Release Berry Corporation Reports Third Quarter 2024 Results Refinances Debt, Announces Uinta Basin Opportunities, and Declares Quarterly Dividend DALLAS, TX - November 7, 2024 (GLOBE NEWSWIRE) – Berry Corporation (bry) (NASDAQ: BRY) ("Berry" or the "Company") today reported third quarter 2024 results and quarterly fixed dividends totaling $0.03 per share. The Company also announced entry into a new $545 million term loan facility that will enable the successful completion of a t ...

Berry Petroleum (BRY) came out with quarterly earnings of $0.14 per share, missing the Zacks Consensus Estimate of $0.15 per share. This compares to earnings of $0.15 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -6.67%. A quarter ago, it was expected that this independent upstream energy company would post earnings of $0.20 per share when it actually produced earnings of $0.18, delivering a surprise of -10%. Over the last ...

Rising oil prices are weighing on the refining business as higher input costs squeeze margins. Additionally, a slowdown in oil production growth is likely to reduce profits from the upstream operations of integrated energy companies. The increasing demand for renewable energy is also casting a shadow over the future of the Zacks Oil & Gas US Integrated industry, making the outlook increasingly uncertain.Among the companies in the industry that will probably survive the business challenges are Cactus Inc. (W ...

EVANSVILLE, Ind. and CHARLOTTE, N.C., Oct. 22, 2024 (GLOBE NEWSWIRE) -- Berry Global Group, Inc. (NYSE: BERY) (“Berry”) and Glatfelter Corporation (NYSE: GLT) (“Glatfelter”) announced today that Berry has set a record date of the close of business on November 1, 2024 for the proposed spin-off of its Health, Hygiene and Specialties Global Nonwovens and Films business (“HHNF Business”). The spin-off and merger of Berry’s HHNF Business with Glatfelter are expected to be completed on November 4, 2024, subject t ...

DALLAS, Oct. 17, 2024 (GLOBE NEWSWIRE) -- Berry Corporation (NASDAQ: BRY) ("Berry" or the "Company") today announced it will report third quarter 2024 results on Thursday, November 7, 2024, before the open of U.S. financial markets and will host a conference call and webcast that morning to discuss these results; details and links are provided below. Earnings Call Information Call Date: Thursday, November 7, 2024 Call Time: 11:00 am a.m. Eastern Time / 10:00 a.m. Central Time / 8:00 a.m. Pacific Time Join t ...

EVANSVILLE, Ind. and CHARLOTTE, N.C., Oct. 10, 2024 (GLOBE NEWSWIRE) -- Berry Global Group, Inc. (NYSE:BERY) ("Berry") and Glatfelter Corporation (NYSE:GLT) ("Glatfelter") announced today that Treasure Escrow Corporation (the "Issuer"), currently an indirect, wholly owned subsidiary of Berry, priced and upsized its previously announced offering to $800 million aggregate principle amount of its senior secured notes due 2031 (the "Notes"). The Notes are being offered by the Issuer in connection with the previ ...