California Resources’ Q2 2018 net income estimates
California Resources (CRC) is expected to report its Q2 2018 results on August 2, after the market closes. During the quarter, California Resources’ net loss, excluding one-time items, is expected to improve by ~85% YoY (year-over-year) to -$12 million from -$78 million. However, the estimate represents a sequential fall from $8 million.
California Resources’ Q2 2018 EPS estimates
In Q2 2018, analysts expect CRC’s EPS, excluding one-time items, to be -$0.29, representing a $1.54 YoY improvement from -$1.83, but a sequential fall from $0.18. Peers with US operations are also expected to see their net income rise YoY in Q2 2018:
- Diamondback Energy’s (FANG) is expected to rise ~26%.
- Energen’s (EGN) is expected to rise ~1,219%.
- Extraction Oil & Gas’s (XOG) is expected to rise ~80%.
- Pioneer Natural Resources’ (PXD) is expected to rise ~600%.
In this series, we’ll look at CRC’s revenue, production, and cash flow estimates, and the odds of California Resources beating its EPS expectations.