California Resources Corp reports results for the quarter ended in September 30 - Earnings Summary

California Resources

06/11/2024 03:47

* California Resources Corp  CRC.N  reported quarterly
adjusted
earnings of $1.50​​ per share for the quarter ended September
30, higher than the same quarter last year, when the company
reported EPS of $1.02.  The mean expectation of ten analysts for
the quarter was for earnings of $1.34 per share. Wall Street
expected results to range from 76 cents to $1.96 per share.
    * Revenue rose 194.1% to $1.35 billion from a year ago;
analysts
expected $968.78 million. 
    * California Resources Corp's reported EPS for the quarter
was
$3.78​.
    * The company reported quarterly net income of $345 million.
    * California Resources Corp shares had risen by 0.7% this
quarter and lost 3.3% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 23.7%
in the last three months.​ 
    * In the last 30 days, five analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 9 "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 also "buy"

Wall Street's median 12-month price target for California
Resources Corp is $65.00 
This summary was machine generated from LSEG data November 6 at
03:47 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
 Sep. 30 2024      1.34           1.50           Beat
 Jun. 30 2024      0.67           0.60           Missed
 Mar. 31 2024      0.63           0.75           Beat
 Dec. 31 2023      0.91           0.93           Beat