Education
About Us
Working with TipRanks
Follow Us
Core Scientific Inc (CORZ)
NASDAQ:CORZ
Earnings Data
Report Date
May 08, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
-0.1Last Year’s EPS
0.75Same Quarter Last Year
Strong Buy
Based on 12 Analysts Ratings
---
Earnings Call Summary
Earnings Call Date:Feb 26, 2025
|% Change Since: -7.09%
|Next Earnings Date:May 08, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted significant achievements, including a major HPC hosting contract and improved capital structure, indicating a strategic shift towards becoming a leading data center business. However, these highlights were tempered by revenue declines, increased net loss, and operational delays. While the company is positioned for growth, the challenges reflect transitional hurdles.Company Guidance
During Core Scientific's fourth-quarter fiscal year 2024 earnings call, the company provided detailed guidance emphasizing its strategic focus on expanding its High-Performance Computing (HPC) hosting capacity and diversifying its customer base. The company highlighted a significant 12-year agreement with CoreWeave, which promises a total revenue potential of $8.7 billion over the contract term, achieving approximately $725 million per year. In 2024, Core Scientific's total revenue was just over $500 million, indicating substantial growth potential from the new contract. The company reported a total contracted power of over 1,300 megawatts by year-end, with plans to expand its Denton site by nearly 100 megawatts. Moreover, Core Scientific aims to reduce its largest customer to less than 50% of total critical IT load by the end of 2028, signaling a commitment to customer diversification. On the financial side, the company ended the year with $830 million in cash and noted a significant reduction in total debt, which positions it well to execute its growth strategy. Additionally, the call detailed a net loss of $265 million for the fourth quarter and an adjusted EBITDA of $13.3 million, with a focus on continuing its expansion and capitalizing on new opportunities in the HPC market.Landmark HPC Hosting Contract
Secured a 12-year agreement with CoreWeave, with a total revenue potential of $8.7 billion, equivalent to about $725 million per year once fully online. This is a significant increase from the company's total revenue of just over $500 million in 2024.
Expansion of HPC Infrastructure
Expanded HPC infrastructure capacity by reallocating resources from Bitcoin mining operations, enlarging existing sites, and acquiring new sites. Ended the year with over 1,300 megawatts of contracted power.
Improved Capital Structure
Reduced total debt by $270 million as part of a Chapter 11 debt restructuring and completed a $625 million convertible note offering at a 0% interest rate, entering 2025 with over $830 million in cash.
Strategic Hires
Hired top-tier data center professionals with a proven track record, significantly strengthening leadership and execution capabilities.
---
CORZ Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
---
CORZ Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 26, 2025 | $10.02 | $10.71 | +6.89% |
| Nov 06, 2024 | $14.33 | $16.46 | +14.86% |
| Aug 07, 2024 | $9.82 | $10.14 | +3.26% |
| May 08, 2024 | $3.48 | $3.90 | +12.07% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
---
FAQ
When does Core Scientific Inc (CORZ) report earnings?
Core Scientific Inc (CORZ) is schdueled to report earning on May 08, 2025, TBA Not Confirmed.
What is Core Scientific Inc (CORZ) earnings time?
Core Scientific Inc (CORZ) earnings time is at May 08, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CORZ EPS forecast?
CORZ EPS forecast for the fiscal quarter 2025 (Q1) is -0.1.
---