RY 156.04 -0.032% TD 79.81 -0.4615% SHOP 99.81 0.9303% CNR 158.79 0.6401% ENB 53.84 0.4478% CP 111.87 0.8019% BMO 112.71 0.7419% TRI 225.62 0.396% CNQ 50.46 2.4777% BN 67.8 1.194% ATD 76.93 -1.0674% CSU 4321.5298 0.3257% BNS 67.27 1.3102% CM 78.76 1.5603% SU 54.66 -1.1037% TRP 62.42 1.2162% NGT 70.54 0.2558% WCN 251.32 0.3153% MFC 36.65 -0.0818% BCE 47.21 0.3187%

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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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