California Resources Corp's Q2 adjusted EPS beats expectations

California Resources

05/08/2025 21:40

Overview

California Resources Q2 adjusted EPS beats analyst expectations, per LSEG data

Company raises 2025 production and adjusted EBITDAX guidance

CRC returns record $287 mln to shareholders in Q2

Outlook

Company raises 2025 net production guidance to 134-138 MBoe/d

CRC expects 3Q25 production of 135-139 MBoe/d

Company raises 2025 adjusted EBITDAX guidance to $1,195 mln-$1,275 mln

CRC plans $280 mln to $330 mln in capital investments for 2025

Result Drivers

HIGH PRODUCTION - Delivered average net production of 137 MBoe/d, at the high end of guidance, with increased drilling activity

MERGER SYNERGIES - Implemented $235 mln in annualized synergies from Aera merger, expecting $185 mln in 2025

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Adjusted EPS
Beat
$1.1
$0.91 (11 Analysts)
Q2 EPS
$1.92


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the oil & gas exploration and production peer group is "buy"

Wall Street's median 12-month price target for California Resources Corp is $59.50, about 20.7% above its August 4 closing price of $47.19

The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 12 three months ago

Press Release: ID:nGNX7jw9lD

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)