BUZZ-Australia's Beach Energy tumbles as results, production forecast miss the mark

Reuters
02-06
BUZZ-Australia's Beach Energy tumbles as results, production forecast miss the mark

** Shares of Beach Energy BPT.AX fall 3.6% to A$1.46, heading for their strongest drop since December 9, if losses hold

** Oil and gas explorer fell as much as 4.6% earlier in the day, hitting lowest level since January 13

** Company posts HY underlying NPAT of A$237 million ($148.88 million), missing Citi's and Jarden's estimates

** Declares interim dividend of 3.0 Australian cents per share, missing a Jarden estimate of 6.0 AU cents per share

** Co narrows its FY25 production outlook to between 18.5 to 20.5 MMboe from earlier forecast of 17.5 to 21.5 MMboe

** Jarden analysts say they were expecting production forecast towards the upper end of the prior range

** Stock up 8.6% this year, as of last close

($1 = 1.5918 Australian dollars)

(Reporting by John Biju in Bengaluru)

((John.Biju@thomsonreuters.com))

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