Yahoo Finance California Resources First Quarter 2024 Earnings: Misses Expectations
California Resources (NYSE:CRC) First Quarter 2024 Results
Key Financial Results
Revenue: US$525.0m (down 47% from 1Q 2023).
Net loss: US$10.0m (down by 103% from US$301.0m profit in 1Q 2023).
US$0.14 loss per share (down from US$4.22 profit in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
California Resources Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 3.6%. Earnings per share (EPS) was also behind analyst expectations.
Looking ahead, revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Oil and Gas industry in the US.
Performance of the American Oil and Gas industry.
The company's shares are down 2.0% from a week ago.
Risk Analysis
You should learn about the 3 warning signs we've spotted with California Resources.
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