California Resources Corp reports results for the quarter ended in June - Earnings Summary

California Resources

07/08/2024 03:00

* California Resources Corp  CRC.N  reported quarterly
adjusted
earnings of 60 cents​​ per share for the quarter ended in June,
higher than the same quarter last year, when the company
reported EPS of 53 cents.  The mean expectation of
seven analysts for the quarter was for earnings of 67 cents per
share. Wall Street expected results to range from 19 cents
to $1.14 per share.
    * Revenue fell 13% to $514.00 million from a year ago;
analysts
expected $459.49 million. 
    * California Resources Corp's reported EPS for the quarter
was 11
cents​.
    * The company reported quarterly net income of $8 million.
    * California Resources Corp shares had fallen by 17.3% this
quarter and lost 19.5% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 16%
in the last three months.​ 
    * In the last 30 days, four analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 5 "strong buy" or "buy," 2
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the oil & gas
exploration and production peer group is also "buy"

Wall Street's median 12-month price target for California
Resources Corp is $63.00 
This summary was machine generated from LSEG data August 7 at
02:00 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.67           0.60           Missed
 Mar. 31 2024      0.63           0.75           Beat
 Dec. 31 2023      0.91           0.93           Beat
 Sep. 30 2023      0.81           1.02           Beat