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Baytex Energy (TSX:BTE) Sees 45% Jump in Net Earnings in 3Q2024 Despite Lower Revenues

Fri 17 Jan 25, 06:32 AM | Team Kalkine

Image source: Shutterstock

Highlights

Baytex Energy Corp. (TSX:BTE) is an oil and gas producer with operations in both Canada and the United States. BTE generates most of its revenue from Canada.

In the third quarter of 2024 (3Q2024), the company reported net revenues of CAD 850.8 million, a 7.8% YoY decrease from CAD 922.9 million in Q32023, mainly due to lower average realization prices. Total expenses also fell by 14.9% YoY, reaching CAD 635.7 million in the reported quarter compared to CAD 746.7 million in the prior year.

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