RY 174.39 2.4016% SHOP 149.115 2.5974% TD-PFM 24.63 -0.0811% TD-PFL 24.7 0.2028% TD 78.325 0.1214% ENB 60.6 1.3039% BN 80.4 1.9787% TRI 226.27 0.7525% CNQ 48.285 2.2771% CP 104.53 1.6038% CNR 151.74 1.5459% BMO 132.69 0.9203% BNS 78.845 0.1715% CSU 4600.2002 2.157% CM 91.15 0.474% MFC 45.79 1.6878% ATD 78.38 1.5285% NGT 60.14 0.0499% TRP 70.15 1.977% SU 57.44 0.5954%

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Baytex Energy (TSX: BTE) targets CAD 700mn in free cash flow in FY24

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Highlights

Baytex Energy Corp. (TSX: BTE) is an oil and gas company that operates in Canada and the United States. It has a market capitalization of CAD 3.97 billion.

In Q1 2024, BTE experienced a significant increase in total revenue, rising by approximately 67.7% to CAD 775.0 million from CAD 462.0 million in pcp. This growth was primarily driven by higher production volumes and an increase in the average realized price of its products. However, higher depreciation expenses and losses from financial derivatives contributed to a decline in earnings before income taxes to CAD 3.4 million, compared to CAD 68.0 million in pcp.

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