=California Resources Corp (CRC) reported earnings on Thur 31 Oct 19 (a/h)

California Resources Corp beats by $0.85, beats on revs 

Reports Q3 (Sep) earnings of $0.35 per share, excluding non-recurring items, $0.85 better than the S&P Capital IQ Consensus of ($0.50); revenues fell 17.8% year/year to $681 mln vs the $620.31 mln S&P Capital IQ Consensus. Adjusted EBITDAX for the third quarter of 2019 was $278 million and cash provided by operating activities was $268 million. Total daily production volumes decreased 6% year-over-year, from 136,000 BOE per day for the third quarter of 2018 to 128,000 BOE per day for the third quarter of 2019.

CRC expects its 2019 internally funded capital program will range from $385 million to $400 million, of which $345 million has been invested through the third quarter of 2019.