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BRY

Berry Corporation

BRY

Berry Corporation • NASDAQ
$3.38 ▲ 1.96% (+0.07)
Market Cap $262.70 M
52w High $5.09
52w Low $2.11
Dividend Yield 0.12%
P/E -2.89
Volume 255.86K
Outstanding Shares 77.61M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $155.808M ▲ $39.235M ▲ $-26.017M ▼ -16.698% ▼ $-0.34 ▼ $19.448M ▼
Q2-2025 $153.655M ▼ $36.162M ▲ $33.604M ▲ 21.87% ▲ $0.43 ▲ $97.599M ▲
Q1-2025 $177.176M ▼ $31.177M ▼ $-96.68M ▼ -54.567% ▼ $-1.25 ▼ $-79.789M ▼
Q4-2024 $193.517M ▲ $39.872M ▲ $-1.759M ▼ -0.909% ▼ $-0.023 ▼ $54.301M ▼
Q3-2024 $184.35M $26.107M $69.863M 37.897% $0.91 $146.03M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $13.364M ▼ $1.387B ▼ $748.016M ▼ $638.982M ▼
Q2-2025 $19.728M ▼ $1.428B ▲ $763.174M ▼ $664.941M ▲
Q1-2025 $39.002M ▲ $1.404B ▼ $772.87M ▼ $631.468M ▼
Q4-2024 $15.336M ▲ $1.518B ▲ $787.05M ▲ $730.636M ▼
Q3-2024 $9.471M $1.517B $784.939M $732.209M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-26.017M ▼ $55.411M ▲ $-47.199M ▼ $-14.576M ▼ $-6.364M ▲ $10.204M ▲
Q2-2025 $33.604M ▲ $28.638M ▼ $-34.162M ▼ $-13.76M ▲ $-19.284M ▼ $-5.524M ▼
Q1-2025 $-96.68M ▼ $45.872M ▲ $-19.77M ▲ $-16.876M ▼ $9.226M ▼ $25.582M ▲
Q4-2024 $-1.759M ▼ $41.361M ▼ $-19.907M ▲ $-889K ▲ $20.565M ▲ $21.887M ▼
Q3-2024 $69.863M $70.695M $-24.502M $-43.41M $2.783M $44.821M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Oil and Gas
Oil and Gas
 $0 ▲$0 ▲$130.00M ▲$130.00M ▲
Product and Service Other
Product and Service Other
 $0 ▲$0 ▲$10.00M ▲$10.00M ▲
Service Other
Service Other
 $80.00M ▲$30.00M ▼$30.00M ▲$30.00M ▲
Electricity
Electricity
 $10.00M ▲$0 ▼$0 ▲$0 ▲
Natural Gas Midstream
Natural Gas Midstream
 $0 ▲$0 ▲$0 ▲$0 ▲
Oil
Oil
 $320.00M ▲$140.00M ▼$0 ▼$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue climbed strongly into the middle of the period and has eased back more recently, reflecting a more normal oil price environment after a very strong year. Profitability at the operating level remains solid, showing that the core fields can still make money, but net income has narrowed materially versus the standout year in the early 2020s. That suggests some margin pressure from either weaker pricing, higher costs, or both. Overall, the business has shifted from earlier losses to being consistently, if modestly, profitable, but earnings are clearly sensitive to the commodity cycle.

Balance Sheet

Balance Sheet The balance sheet looks relatively steady and conservative. Total assets have been fairly flat over several years, signaling no aggressive expansion or large acquisitions. Debt levels have stayed in a narrow band, indicating manageable leverage rather than a highly geared structure. Cash on hand is modest, which makes ongoing access to cash flow and credit important, but equity has been stable, pointing to a capital structure that is not stretched. In short, the company appears balanced rather than overextended, but with limited liquidity cushion.

Cash Flow

Cash Flow Operating cash flow has been positive throughout the entire period, including during tougher industry conditions, which is a key strength. After funding capital spending, free cash flow has generally been positive as well, with only a brief dip when spending was higher. Capital expenditures have been relatively disciplined, not swinging wildly from year to year. This pattern suggests the company can usually fund its investment program from internal cash generation, leaving some flexibility for debt service and potential shareholder returns, assuming conditions don’t deteriorate sharply.

Competitive Edge

Competitive Edge Berry’s edge comes from being a specialist rather than a generalist. It focuses on mature, heavy-oil fields where enhanced oil recovery and detailed local knowledge matter more than chasing the latest shale play. Its long experience in California’s strict regulatory environment, combined with in‑house well services and Brent-linked pricing for much of its production, gives it cost and price advantages that are not easy for newcomers to copy. The flip side is concentration risk: heavy exposure to California and to oil prices means its fortunes are tightly tied to both regulation and commodity markets.

Innovation and R&D

Innovation and R&D The company’s innovation is practical and field-driven, not lab-heavy. It refines long-established steam-based methods to squeeze more oil from old fields at lower cost and with less operational risk. Sidetrack drilling is a key tool, letting Berry access new parts of reservoirs using existing wells, which can be cheaper and less disruptive than drilling from scratch. The firm is also working on efficiency and emissions reductions, with potential to link its enhanced recovery skills with carbon management in the future. Expansion and technical progress in Utah’s Uinta Basin are important watch points for how its innovation model travels beyond California.

Summary

Berry looks like a cash-generative, operationally focused producer built around mature fields rather than rapid growth. Its financials show steady operations with decent operating profits but thinner bottom-line earnings in the most recent years as the post-boom environment has normalized. The balance sheet is fairly balanced, with manageable debt and stable equity, though not a large cash buffer. Competitive strengths lie in specialized expertise, regulatory know-how, and integrated services, offset by concentration in a challenging jurisdiction and exposure to oil price swings. Future performance will hinge on maintaining cost discipline, adapting to California’s evolving policies, and successfully growing its position in Utah while keeping cash flows resilient through the cycle.

NEWS

November 20, 2025 · 12:27 PM UTC

Berry Corporation Investor Alert By The Former Attorney General Of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Berry Corporation - BRY

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November 14, 2025 · 6:36 PM UTC

Bri-Chem Announces 2025 Third Quarter Financial Results

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November 14, 2025 · 6:03 PM UTC

Bri-Chem Announces New CEO Leadership

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November 9, 2025 · 12:15 PM UTC

Bri-Chem Corp. Announces Leadership Transition

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November 4, 2025 · 9:05 AM UTC

PacBio Supports Berry Genomics in Achieving First Regulatory Approval for Clinical Long-Read Sequencing in China

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