Baytex Energy Corp T.BTE

Is this correct?

[challenger426]

Consensus for Q2 is 6 cents/share on $375M in revenue.
BTE earnings for Q2 is $1.85/share on $442M in revenue.  That is a huge beat !

If so, the price should jump tomorrow.

[Antonyius]

The 1.85 is from impairment correction. Still a strong beat at like 20 cents. Should jump tomorrow, not as much as 10-15% as people think, or at least sustained. Depends on what oil does by tomorrow. Looks good long term though, the presentation will help too.

[1234bmth]

No, the consensus doesn't take in to account one time event, in this case $1.1B impairment reversal. In fact BTE has a loss of approximately $0.1 per share due to hedge, but what is more important is FCF and debt reduction.

[challenger426]

Thanks, now that I read it through past the headline numbers, I see the impairment reversal.  The free cash flow and debt reduction is great news.  Some energy companies have been buying back shares but nothing wrong with paying down debt, especially when you have a lot of it.  With energy prices expected to remain high, it can only be good for BTE going forward, allowing further

[masfortuna]

Actually NO.  It's  .19  per share as opposed to .06 as per consensus. So x4 quarters = .76 annually on a $2 stock??? Nuts... Mas