California Resources Corporation (NYSE: CRC) stock soared 5.60% in pre-market trading on Wednesday, following the release of its impressive first-quarter 2025 financial results. The independent oil and natural gas company significantly outperformed analyst expectations, demonstrating robust operational performance and financial strength.
CRC reported adjusted earnings per share of $1.07 for Q1 2025, handily beating the consensus estimate of $0.77. This represents a 42.67% increase from the same period last year. The company's revenue also exceeded expectations, coming in at $912 million, surpassing the analyst consensus of $861.62 million by 5.90%. This marks a substantial 100.88% year-over-year increase in sales.
Other highlights from the earnings report include a net income of $115 million and an adjusted EBITDAX of $328 million. The company maintained a flat quarter-over-quarter total net production, demonstrating operational stability. Additionally, California Resources reaffirmed its 2025 production, capital investment, and adjusted EBITDAX guidance, further boosting investor confidence. With analysts maintaining a "buy" rating on the stock and the company's strong financial performance, CRC appears well-positioned for continued growth in the energy sector.
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