California Resources Q2 EPS $0.53 Misses $0.83 Estimate, Sales $591.00M Miss $628.80M Estimate
Portfolio Pulse from Benzinga Newsdesk
California Resources (NYSE:CRC) reported Q2 earnings of $0.53 per share, missing the analyst consensus estimate of $0.83 by 36.14%. This is a 53.1% decrease from the same period last year. The company also reported quarterly sales of $591.00 million, missing the analyst consensus estimate of $628.80 million by 6.01%. This is a 20.88% decrease from the same period last year.
July 31, 2023 | 9:35 pm
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California Resources reported a significant decrease in Q2 earnings and sales, missing analyst estimates. This could negatively impact the company's stock price in the short term.
California Resources reported lower than expected earnings and sales for Q2, which is a negative signal for investors. This could lead to a decrease in the company's stock price in the short term as it indicates potential financial instability.
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