California Resources Q4 Adj EPS $0.93 Beats $0.91 Estimate, Sales $726.00M Beat $531.83M Estimate
Portfolio Pulse from Benzinga Newsdesk
California Resources (NYSE:CRC) reported Q4 adjusted EPS of $0.93, surpassing the $0.91 estimate, and sales of $726M, exceeding the $531.83M estimate. This represents a 25% decrease in EPS and a 6.45% increase in sales year-over-year.
February 27, 2024 | 10:22 pm
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California Resources reported a Q4 adjusted EPS of $0.93, beating estimates, and sales of $726M, also above expectations. Year-over-year, EPS decreased by 25% while sales increased by 6.45%.
Beating both earnings and sales estimates typically has a positive short-term impact on a company's stock price. The significant beat on sales estimates and the slight beat on EPS, despite the year-over-year decrease in EPS, suggest a positive outlook that could encourage investor confidence in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100