Berry Corporation reports Q2 2025 results, maintains dividend

DALLAS - Berry Corporation (NASDAQ:BRY) on Wednesday reported second quarter net income of $34 million, or $0.43 per diluted share, compared with a loss of $8.8 million, or $0.11 per share, in the same period last year. The company, currently valued at $231 million market cap, is trading below its InvestingPro Fair Value, with a notably low Price/Book ratio of 0.36.

The oil producer generated operating cash flow of $29 million and adjusted EBITDA of $53 million for the quarter, while maintaining its quarterly cash dividend of $0.03 per share. According to InvestingPro data, Berry has maintained dividend payments for 8 consecutive years, though current liquidity metrics suggest some pressure on short-term obligations.

Production averaged 23.9 thousand barrels of oil equivalent per day (MBoe/d) during the quarter, with oil accounting for 92% of total production. This represents a slight decrease from 25.3 MBoe/d in the second quarter of 2024.

The company paid down approximately $11 million of total debt during the quarter, bringing year-to-date debt reduction to approximately $23 million. Berry reaffirmed its target of at least $45 million in total debt reduction for 2025.

Revenue from oil, natural gas, and natural gas liquids sales reached $126 million in the quarter, down from $169 million in the same period last year, primarily due to lower realized oil prices. The company’s average realized oil price without hedges was $61.26 per barrel, compared to $78.18 per barrel in the second quarter of 2024.

Berry reported that 71% of its oil volumes are hedged for the remainder of 2025 at $74.59 per barrel, and 63% hedged for 2026 at $69.55 per barrel.

The company completed its full-year drilling activity and expects sequential production growth through the end of the year, with production from all four horizontal Uinta wells expected in August.

Based on a company press release statement, Berry reaffirmed its full-year 2025 guidance and noted that its hedging position protects cash flows and liquidity. With an EV/EBITDA ratio of 1.67, the company’s valuation metrics and detailed financial analysis are available in the comprehensive Pro Research Report, one of 1,400+ reports available on InvestingPro.

In other recent news, Berry Corporation reported strong financial results for the first quarter of 2025, exceeding both earnings and revenue forecasts. The company achieved an earnings per share of $0.12, surpassing the expected $0.105, while revenue reached $182.65 million, beating the anticipated $174.25 million. These results highlight the company’s positive financial trajectory. Additionally, Berry Corporation recently held its 2025 Annual Meeting of Stockholders, where shareholders approved executive compensation and elected six director nominees. The nominees, including Fernando Araujo and Renée Hornbaker, received significant majority support. Furthermore, the company ratified its independent auditor for the fiscal year ending December 31, 2025. These developments reflect Berry Corporation’s ongoing efforts to strengthen its governance and operational framework.

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