California Resources (US:CRC) ZACKS·2025-05-06 23:00Earnings Performance - California Resources Corporation (CRC) reported quarterly earnings of $1.07 per share, exceeding the Zacks Consensus Estimate of $0.83 per share, and up from $0.75 per share a year ago, representing an earnings surprise of 28.92% [1] - The company posted revenues of $912 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 5.26%, compared to year-ago revenues of $454 million [2] Stock Performance - California Resources shares have declined approximately 32.7% since the beginning of the year, while the S&P 500 has decreased by 3.9% [3] - The current consensus EPS estimate for the upcoming quarter is $0.50 on revenues of $842.86 million, and for the current fiscal year, it is $2.94 on revenues of $3.47 billion [7] Industry Outlook - The Oil and Gas - Exploration and Production - United States industry is currently ranked in the bottom 24% of over 250 Zacks industries, indicating potential challenges for stocks within this sector [8] - The earnings outlook for California Resources is influenced by the overall industry performance, which can materially impact stock performance [8] Estimate Revisions - Ahead of the earnings release, the estimate revisions trend for California Resources was unfavorable, resulting in a Zacks Rank 5 (Strong Sell) for the stock, suggesting expected underperformance in the near future [6] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]