Bri-Chem (BRY) Q3 2023 earnings summary
Event summary combining transcript, slides, and related documents.
Q3 2023 earnings summary
22 Oct, 2026Executive summary
Q3 2023 sales were $26.8M, down $2.1M YoY, as lower U.S. rig activity and an unfavorable sales mix weighed on results.
Adjusted EBITDA fell to $1.1M from $1.7M; operating earnings declined to $1.2M from $2.0M, while the quarter recorded a $376K net loss.
Financial highlights
Q3 sales were $26.830M versus $28.986M YoY; 9M sales were $79.260M versus $77.991M.
Q3 adjusted EBITDA was $1.051M versus $1.717M; 9M adjusted EBITDA was $4.638M versus $5.941M.
Q3 operating earnings were $1.185M versus $2.049M; 9M operating earnings were $3.698M versus $6.784M.
Q3 net loss was $376K versus net earnings of $500K; 9M net earnings were $442K versus $8.613M.
Outlook and guidance
Sustained oil prices of $80–$90 could support a modest rig-count recovery through H1 FY2024; completion of the Trans Mountain pipeline and LNG projects could create production opportunities in 2024.
Management plans to align headcount and overhead with oilfield activity and profitability amid continued pressure on U.S. rig counts.
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