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

California Resources

08/05/2024 24:10

* California Resources Corp  CRC.N  reported quarterly
adjusted
earnings of 75 cents​​ per share for the quarter ended in March,
lower than the same quarter last year, when the company reported
EPS of $2.63.  The mean expectation of six analysts for the
quarter was for earnings of 63 cents per share. Wall Street
expected results to range from 57 cents to 68 cents per share.
    * Revenue fell 37.8% to $454.00 million from a year ago;
analysts
expected $483.31 million. 
    * California Resources Corp's reported EPS for the quarter
was a
loss of 14 cents​.
    * The company reported a quarterly loss of $10 million.
    * California Resources Corp shares had fallen by 4.4% this
quarter and lost 3.6% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 43.4%
in the last three months.​ 
    * In the last 30 days, three analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 4 "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 $62.50 
This summary was machine generated from LSEG data May 7 at 11:10
p.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
 Mar. 31 2024      0.63           0.75           Beat
 Dec. 31 2023      0.91           0.93           Beat
 Sep. 30 2023      0.81           1.02           Beat
 Jun. 30 2023      0.71           0.53           Missed