Berry Petroleum: 4Q Earnings Snapshot
DALLAS (AP) _ Berry Petroleum Corp. (BRY) on Tuesday reported a loss of $63.8 million in its fourth quarter.
The Dallas-based company said it had a loss of 80 cents per share. Earnings, adjusted for non-recurring costs, were 11 cents per share.
The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 15 cents per share.
The independent upstream energy company posted revenue of $61.4 million in the period, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $134.9 million.
For the year, the company reported a loss of $262.9 million, or $3.29 per share, swinging to a loss in the period. Revenue was reported as $523.8 million.
The company's shares closed at $4.86. A year ago, they were trading at $6.98.