Overview
California Resources Q3 adjusted EPS and net income beat analyst expectations
Company increased quarterly dividend by 5%, reinforcing commitment to shareholder returns
Announced merger with Berry Corporation, expected to close in Q1 2026
Outlook
Co expects Q4 2025 net production of 131-135 MBoe/d
Capital investments for Q4 2025 projected at $105-125 mln
CRC plans to average four drilling rigs in 2026
Result Drivers
OIL PRODUCTION - Delivered 137 MBoe/d, with 78% oil, supporting revenue growth
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Adjusted EPS | Beat | $1.46 | $1.25 (11 Analysts) |
Q3 EPS | $0.76 | ||
Q3 Adjusted Net Income | Beat | $123 mln | $106.48 mln (9 Analysts) |
Q3 Net Income | $64 mln | ||
Q3 Adjusted EBITDAX | Beat | $338 mln | $332.49 mln (12 Analysts) |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the oil & gas exploration and production peer group is "buy"
Wall Street's median 12-month price target for California Resources Corp is $68.00, about 30.6% above its November 3 closing price of $47.16
The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 15 three months ago
Press Release: ID:nGNX3rKP1N
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)