California Resources Q4 adjusted net income misses expectations

California Resources

02/03/2026 13:11

Overview

Energy and carbon management firm's Q4 adjusted net income missed analyst expectations

Company advancing carbon capture projects, first CO2 injection at Elk Hills in spring 2026

Signed MOUs for 6.8 mln metric tons per annum carbon capture capacity

Outlook

Company anticipates 2026 capital investments of $12 - $20 mln

California Resources sees 1Q26 adjusted EBITDAX between $(10) mln and $(5) mln

Result Drivers

CARBON CAPTURE EQUIPMENT - Completed construction at Elk Hills for California's first CCS project, targeting first CO2 injection in spring 2026

MOUS SIGNED - Signed MOUs for 6.8 mln metric tons per annum with industrial and power partners for energy transition solutions

SCALABLE PLATFORM - Positioned Carbon TerraVault as a scalable carbon capture and credit platform with measurable emissions reductions

Company press release: ID:nGNX5DvK9v

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Adjusted Net Income
Miss
$40 mln
$50.6 mln

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "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 $65.00, about 10.5% above its February 27 closing price of $58.84

The stock recently traded at 42 times the next 12-month earnings vs. a P/E of 17 three months ago

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