Berry (BRY) shares were down 8% in Thursday trading after the upstream energy company reported Q3 adjusted diluted earnings of $0.14 per share, down from $0.15 a year earlier.
Analysts polled by Capital IQ expected $0.15.
Revenue for the quarter ended Sept. 30 was $259.8 million, up from $118.8 million a year earlier.
Two analysts surveyed by Capital IQ expected $181 million.
The company declared a fixed dividend of $0.03, payable Nov. 25 to shareholders as of Nov. 15.
Meanwhile, the company said it secured a new $545 million term loan facility from Valor Upstream Credit Partners, a firm managed by Breakwall Capital and Vitol.
The loan will be used to redeem all of the company's $400 million notes due 2026 and refinance an existing credit facility due in August 2025, Berry said.
Price: 5.12, Change: -0.46, Percent Change: -8.24
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.