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Here's What Key Metrics Tell Us About California Resources Corporation (CRC) Q4 Earnings
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For the quarter ended December 2023, California Resources Corporation (CRC - Free Report) reported revenue of $726 million, up 6.5% over the same period last year. EPS came in at $0.93, compared to $1.24 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $610.7 million, representing a surprise of +18.88%. The company delivered an EPS surprise of -7.92%, with the consensus EPS estimate being $1.01.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how California Resources Corporation performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Production per day - Natural Gas: 155 MMcf/d versus 135.05 MMcf/d estimated by two analysts on average.
Production Per Day - Oil: 61 MBbl/d versus the two-analyst average estimate of 49.88 MBbl/d.
Average realized prices with derivative settlements - Natural gas: $4.66 compared to the $5.21 average estimate based on two analysts.
Total Production Per Day: 98 MBoe/d compared to the 83.14 MBoe/d average estimate based on two analysts.
Production Per Day - NGL: 11 MBbl/d versus the two-analyst average estimate of 10.77 MBbl/d.
Shares of California Resources Corporation have returned +5.8% over the past month versus the Zacks S&P 500 composite's +3.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Here's What Key Metrics Tell Us About California Resources Corporation (CRC) Q4 Earnings
For the quarter ended December 2023, California Resources Corporation (CRC - Free Report) reported revenue of $726 million, up 6.5% over the same period last year. EPS came in at $0.93, compared to $1.24 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $610.7 million, representing a surprise of +18.88%. The company delivered an EPS surprise of -7.92%, with the consensus EPS estimate being $1.01.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how California Resources Corporation performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Production per day - Natural Gas: 155 MMcf/d versus 135.05 MMcf/d estimated by two analysts on average.
- Production Per Day - Oil: 61 MBbl/d versus the two-analyst average estimate of 49.88 MBbl/d.
- Average realized prices with derivative settlements - Natural gas: $4.66 compared to the $5.21 average estimate based on two analysts.
- Total Production Per Day: 98 MBoe/d compared to the 83.14 MBoe/d average estimate based on two analysts.
- Production Per Day - NGL: 11 MBbl/d versus the two-analyst average estimate of 10.77 MBbl/d.
View all Key Company Metrics for California Resources Corporation here>>>Shares of California Resources Corporation have returned +5.8% over the past month versus the Zacks S&P 500 composite's +3.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.