CORZ Earnings Prediction
The chart below shows how CORZ performed 10 days before and after its earnings report, based on data from the past quarters. Typically, CORZ sees a +1.82% change in stock price 10 days leading up to the earnings, and a +6.04% change 10 days following the report. On the earnings day itself, the stock moves by -0.16%. This data can give you a slight idea of what to expect for the next quarter's release.
CORZ Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
95.35M
-15.54%
-32.42%
Gross Margin
-0.16%
-101.17%
-100.58%
Operating Margin
-43.53%
331.85%
-926.00%
Net Margin
-477.44%
1210.21%
-16.30%
EPS
-1.17
-963.64%
-74.06%
No Data Available
CORZ Earnings Analysis
Core Scientific, Inc. Common Stock Corporation (CORZ.O) Earnings Conference Call
Positive
Strong Revenue Performance: Core Scientific achieved a total revenue of $95.4 million in the third quarter, driven by strong performance in digital asset self-mining and HPC hosting segments.
Digital Asset Mining Revenue: The company generated $68.1 million from digital asset self-mining, reflecting a robust demand for high-powered data center infrastructure.
HPC Hosting Revenue Growth: Core Scientific's HPC hosting segment contributed $10.3 million in revenue, showcasing positive momentum in this area.
Capital Structure Enhancement: The successful completion of a $460 million convertible note offering significantly improved the company's capital structure and liquidity position.
Cash Reserves Increase: Core Scientific's cash and cash equivalents increased to $253 million, up from $50 million at the end of 2023, enhancing financial stability.
Negative
IT Load Commitment: Core Weave exercised its final two options from additional 232 megawatts, contractually committing to all 500 megawatts of critical IT load offered, achieving the first of our three 2024 catalysts we described last quarter.
Quarterly Financial Losses: Gross loss of $0.2 million in the quarter and operating loss was $41 million, reflecting lower post-halving hash price and higher operating expenses.
Net Loss and Adjusted EBITDA: Our $455 million net loss was driven mainly by the significant quarter-over-quarter appreciation in share and warrant prices that required us to make mark-to-market adjustments to the value of our equity and adjusted EBITDA was $10 million in the third quarter.
Digital Asset Revenue Decline: Digital asset self-mining revenue decreased by $14.9 million or 18% year-over-year, primarily from a 62% decrease in the number of Bitcoin earned during the quarter as a result of the April halving and a 61% increase in the network hash rate.
Negative Segment Gross Margin: Segment gross margin was negative 9% in the quarter.
CORZ FAQs
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CORZ Earning Call Sentiment
Core Scientific, Inc. (CORZ) Q3 2024 Earnings Call Transcript
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00:00
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CORZ.O
-1.39%Positive
The earnings call shows a mixed sentiment. Strong positive indicators include higher than expected HPC revenue and ongoing expansion plans, which suggest growth potential. However, uncertainties in financing structures, unclear management responses, and potential supply chain issues for 2026 components create concerns. The lack of clarity on the separation of business segments and Alabama site specifics further adds to the uncertainty. These mixed signals indicate a neutral sentiment, suggesting the stock price may remain stable in the short term, with potential for both positive and negative fluctuations.
