BKV Turns To Profit In Q2, Revenues Surge; Lifts FY25 Production View; Stock Gains In Pre-market

(RTTNews) - Energy company BKV Corp. (BKV) reported Tuesday a profit in its second quarter, compared to prior year's loss, with significant growth in revenues.

Looking ahead, for fiscal 2025, the company raised its outlook, and now expects net production of 790-810 MMcfe/d, reflecting a 4% increase at the mid-point.

In the pre-market activity, BKV shares were gaining around 9.7 percent to trade at $22.05.

In addition, the company announced a pending strategic transaction in the Barnett Shale with Bedrock, as well as a Carbon Sequestered Gas deal with Gunvor, a commodities trader.

In the second quarter, net income attributable to the company was $104.57 million or $1.23 per share, compared to last year's loss of $59.70 million or $0.90 per share.

The latest result included unrealized hedging gains of $102.9 million.

Adjusted net income was $32.8 million or $0.39 per share, compared to loss of $22.8 million or $0.34 per share a year ago.

For the three months ended June 30, total revenues and other operating income were $322.04 million, up from $136.20 million last year.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.