Core Scientific Inc (CORZ)
NASDAQ:CORZ
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Earnings Data
Report Date
Aug 06, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
-0.02Last Year’s EPS
-0.04Same Quarter Last Year
Strong Buy
Based on 13 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized substantial operational progress: the company is billing ~243 MW (>$350M annualized revenue), achieved multiple site turnovers, secured a $3.3B financing (net ~$2.9B), increased CoreWeave cash gross profit targets to 80%–85%, and laid out aggressive 2026 CapEx and large-scale development plans (Pecos and Muskogee to ~1.5 GW). Management also highlighted strong customer engagement and a clear behind-the-meter power strategy. Key risks discussed include an expired exclusivity (deal timing uncertainty), national labor constraints, permitting for behind‑the‑meter generation, the need for credit support for some customer segments, the planned wind-down of Bitcoin mining (near-term revenue mix shift), and increased debt service from the new financing. Overall, the positive operational execution, large secured financing, improved margin visibility, and clear growth roadmap outweigh the noted execution and timing risks.Company Guidance
Billable Capacity and Near-Term Revenue
Billing for approximately 243 megawatts of billable colocation capacity (management also referenced ~245 MW), which Jim noted equates to more than $350 million of annualized colocation GAAP revenue. Management expects roughly another 200 MW to begin earning revenue in the coming months and to deliver >450 MW billable by the end of the summer and the full 590 MW contracted to CoreWeave by early 2027.
Successful Site Turnovers
Completed full turnovers for Marble, NC (65 MW) and Dalton, GA Phase I (30 MW), demonstrating the company's ability to transition assets from construction into revenue-generating operations.
Large-Scale Capital Raise Secured
Closed a $3.3 billion CoreWeave project bond financing at a 7.75% interest rate; net proceeds after closing costs and required reserves were approximately $2.9 billion. Management characterized this as a validation of contracted cash flows and a major enabler of the next phase of growth.
Upgraded CoreWeave Cash Gross Profit Target
Increased target cash gross profit range for the CoreWeave contract to 80%–85% from the prior 75%–80% target (a 5 percentage-point upward revision), reflecting greater visibility into operating cost structure now that a meaningful portion of contracted megawatts are billing.
Aggressive 2026 CapEx and Pre-Seeding Plan
Plan to deploy roughly $2.0 billion of total capital expenditures in 2026, including approximately $700 million for the Hunt County site acquisition and the Polaris acquisition at Muskogee, and expenditures to begin pre-seeding ~1 gigawatt of new billable capacity (long‑lead equipment and site development).
Large-Scale Development Opportunity — Pecos and Muskogee
Pecos: plan to scale from 300 MW to 1.5 GW via grid and behind-the-meter solutions; initial 185 MW (431k sq ft) facility in active construction with long‑lead items secured and target RFS within ~12 months. Muskogee: announced path to ~1.5 GW gross power (~1 GW leasable) leveraging Polaris acquisition (~440 MW) and behind-the-meter options; first 82.5 MW building development begun with initial delivery expected H2 2027.
Behind-the-Meter and Power Strategy
Actively pursuing behind-the-meter generation and natural gas infrastructure to supplement grid capacity. Management expects behind-the-meter could enable RFS timelines ~12–14 months and indicated blended customer power costs broadly comparable to grid prices.
Progress on Commercial Demand and Customer Engagement
Management reports materially increased engagement since the start of the year from hyperscalers, chip makers, AI labs and Neo Cloud providers; three hyperscalers re-engaged on Pecos and Muskogee after an exclusivity period expired, supporting depth of demand for high-density capacity.
Operational and Corporate Cost Baseline
First quarter SG&A on a cash basis was just over $30 million, which management presented as a reasonable baseline for corporate expenses going forward.
Cryptocurrency Exposure Reduction
Monetized a significant portion of Bitcoin holdings earlier in the year and currently retain only a modest amount on the balance sheet. Bitcoin mining operations are being wound down through the year with a meaningful step down in miners online expected in the second half and only one or two sites potentially operating by year-end.
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 |
|---|---|---|---|
May 06, 2026 | $24.63 | $22.36 | -9.22% |
Mar 02, 2026 | $16.49 | $15.30 | -7.22% |
Oct 24, 2025 | $19.34 | $19.87 | +2.74% |
Aug 08, 2025 | $14.41 | $14.53 | +0.83% |
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 Aug 06, 2026, After Close (Confirmed).
What is Core Scientific Inc (CORZ) earnings time?
Core Scientific Inc (CORZ) earnings time is at Aug 06, 2026, After Close (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 2026 (Q2) is -0.02.
