California Resources Q3 adjusted EPS beats estimates, dividend up 5%

California Resources

04/11/2025 21:40

Overview

California Resources Q3 adjusted EPS and net income beat analyst expectations

Company increased quarterly dividend by 5%, reinforcing commitment to shareholder returns

Announced merger with Berry Corporation, expected to close in Q1 2026

Outlook

Co expects Q4 2025 net production of 131-135 MBoe/d

Capital investments for Q4 2025 projected at $105-125 mln

CRC plans to average four drilling rigs in 2026

Result Drivers

OIL PRODUCTION - Delivered 137 MBoe/d, with 78% oil, supporting revenue growth

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Adjusted EPS
Beat
$1.46
$1.25 (11 Analysts)
Q3 EPS
$0.76
Q3 Adjusted Net Income
Beat
$123 mln
$106.48 mln (9 Analysts)
Q3 Net Income
$64 mln
Q3 Adjusted EBITDAX
Beat
$338 mln
$332.49 mln (12 Analysts)

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 $68.00, about 30.6% above its November 3 closing price of $47.16

The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 15 three months ago

Press Release: ID:nGNX3rKP1N

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(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.)