California Resources Q3 Adj EPS $1.02 Beats $0.81 Estimate, Sales $460.00M Miss $507.74M Estimate
Portfolio Pulse from Benzinga Newsdesk
California Resources (NYSE:CRC) reported Q3 adjusted earnings of $1.02 per share, beating the analyst consensus estimate of $0.81 by 25.93%. However, this is a 29.66% decrease from the same period last year. The company's quarterly sales were $460.00 million, missing the analyst consensus estimate of $507.74 million by 9.40%, and marking a 59.11% decrease from the same period last year.
November 01, 2023 | 9:28 pm
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NEUTRAL IMPACT
California Resources' Q3 earnings beat estimates but sales missed and are significantly down YoY. This mixed result could lead to uncertainty in the market.
While the company beat earnings estimates, the significant decrease in sales YoY and the miss on sales estimates could lead to uncertainty among investors, potentially impacting the stock's short-term performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100