California Resources Q1 2024 Adj EPS $0.75 Beats $0.63 Estimate, Sales $454.000M Miss $483.310M Estimate
Portfolio Pulse from Benzinga Newsdesk
California Resources (NYSE:CRC) reported Q1 2024 earnings of $0.75 per share, surpassing the $0.63 estimate, but its sales of $454M fell short of the $483.31M estimate, marking a 55.66% decrease from the previous year.
May 07, 2024 | 8:32 pm
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California Resources reported higher-than-expected Q1 2024 earnings per share but missed sales estimates, with a significant year-over-year decrease.
While the beat on earnings per share (EPS) is positive, the miss on sales estimates and the significant year-over-year sales decrease could concern investors. The mixed results may lead to neutral short-term price movement as the positive EPS beat could be offset by concerns over decreased sales.
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