California Resources: 2Q Earnings Snapshot
LOS ANGELES (AP) _ California Resources Corp. (CRC) on Thursday reported a loss of $82 million in its second quarter.
The Los Angeles-based company said it had a loss of $1.70 per share. Losses, adjusted for one-time gains and costs, came to 29 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 5 cents per share.
The oil and natural gas company posted revenue of $549 million in the period.
California Resources shares have climbed 80 percent since the beginning of the year. The stock has more than quadrupled in the last 12 months.