California Resources Q4 Adjusted EPS Misses Estimates by $0.06
CRC sits 90% above its 52-week low of $30.97.
Summary
California Resources reported Q4 adjusted EPS of $0.47, falling short of the IBES estimate of $0.53. The company also posted adjusted net income of $40 million, below the analyst consensus of $50.6 million. This earnings miss on key profitability metrics is a material negative development for the company and is likely to exert downward pressure on the stock, particularly as it has been trading near its 52-week high. Traders will be closely watching for management's commentary on the factors contributing to the miss and any updated outlook for future performance.
At the time of this announcement, CRC was trading at $58.85 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $5.3B. The 52-week trading range was $30.97 to $60.03. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Reuters.