Q: Baytex recently reported: 2nd quarter. Just your thoughts on their results. As always, thanks.
Robert
Robert
5i Research Answer:
Cash flow per share was 47c, ahead of estimates of 45c. Production was 89,761, up 8%. Sales did fall 30% on lower pricing, but at $599M beat estimates of $466M. BTE sees yearly production at 120,500 to 122,500 b/d. It has bought back 4.7M shares to July. Free cash flow was 17c per share. The balance sheet continues to improve, and the company expects $500M in free cash flow for the full year. We would consider the results pretty good overall.