Core Scientific (NASDAQ:CORZ) Announces Earnings Results, Beats Expectations By $0.54 EPS

Key Points

• Core Scientific reported Q3 EPS of $0.47, beating the consensus estimate of a $0.07 loss by $0.54, while revenue of $232.87 million also exceeded expectations of $196.36 million.
• Colocation revenue climbed nearly 60% sequentially to $215 million, and adjusted EBITDA rose to $134 million. Management expects another double-digit sequential revenue increase in Q4 as additional capacity begins billing.
• CoreWeave and AMD agreements represent about 1.1 GW of contracted capacity and could generate $1.8 billion in average annual run-rate revenue once fully delivered, but financing the remaining AMD build-out, permits, and delivery timelines remain execution risks.

Core Scientific (NASDAQ:CORZ - Get Free Report) posted its earnings results on Thursday. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.07) by $0.54, Zacks reports. The company had revenue of $232.87 million during the quarter, compared to analysts' expectations of $196.36 million.

Here are the key takeaways from Core Scientific's conference call:

• Colocation growth sharply lifted results: Q3 colocation revenue rose nearly 60% sequentially to $215 million, while Adjusted EBITDA increased to $134 million from $41 million and the margin expanded to 57%. Management expects a double-digit sequential revenue increase in Q4 as more capacity begins billing.
• CoreWeave build-out is nearing completion: Core Scientific is billing for 485 MW of the 590 MW contracted across five campuses, with the remaining approximately 100 MW expected to come online by early 2027. The company says CoreWeave has funded most of the build-out and that contractual protections include end-customer support at certain campuses and security interests in infrastructure.
• AMD adds substantial contracted growth, though delivery remains ahead: The initial 530 MW commitment is expected to begin delivering in the first half of 2027, with roughly half coming online next year and the balance in 2028. Together, the CoreWeave and AMD contracts total about 1.1 GW; management projects $1.8 billion in average annual run-rate revenue and $1.6 billion in NOI once fully delivered and billing, while AMD also holds reservation rights for about 1.9 GW of additional capacity.
• Financing remains a key execution risk: Liquidity was approximately $1.7 billion at quarter-end, down about $1 billion sequentially after capital spending and the Polaris acquisition, and the company still needs financing for remaining AMD project costs. Management is pursuing project bonds and other debt options, does not expect to issue equity for the initial AMD build-out, and expects about $650 million from warrant exercises around January 2027.
• Development plans hinge on permits and power availability: Management says current delivery timelines are unchanged, but air permits for the Texas sites are still in process, and behind-the-meter generation plans require further partner and equipment decisions. The company also expects to finish winding down Bitcoin mining in Q4 and enter 2027 focused solely on colocation.

Core Scientific Price Performance

CORZ traded down $1.38 during trading on Thursday, hitting $11.38. The company's stock had a trading volume of 34,104,774 shares, compared to its average volume of 12,986,259. The firm's 50 day moving average price is $15.92 and its 200-day moving average price is $19.55. The stock has a market cap of $3.66 billion, a PE ratio of -2.57 and a beta of 5.56. Core Scientific has a twelve month low of $10.59 and a twelve month high of $30.46.

Wall Street Analyst Weigh In

CORZ has been the subject of several recent research reports. Rothschild & Co Redburn started coverage on Core Scientific in a research report on Monday, September 21st. They set a "neutral" rating and a $16.00 price target for the company. UBS Group restated a "market outperform" rating on shares of Core Scientific in a research report on Wednesday, October 14th. Capital One Financial set a $33.00 price objective on Core Scientific in a research note on Thursday, July 30th. Cantor Fitzgerald reiterated an "overweight" rating and set a $39.00 price objective on shares of Core Scientific in a research report on Wednesday, October 14th. Finally, Freedom Capital upgraded Core Scientific from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Core Scientific currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.28.

Insider Buying and Selling at Core Scientific

In other news, insider Todd DuChene sold 10,000 shares of the firm's stock in a transaction on Monday, October 19th. The stock was sold at an average price of $13.87, for a total transaction of $138,700.00. Following the sale, the insider owned 1,143,286 shares in the company, valued at $15,857,376.82. This trade represents a 0.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders acquired 19,000 shares of company stock worth $342,290 and sold 100,000 shares worth $1,628,600. 1.70% of the stock is currently owned by corporate insiders.

Key Stories Impacting Core Scientific

Here are the key news stories impacting Core Scientific this week:

• Positive Sentiment: For the quarter ended September 2026, Core Scientific reported earnings of $0.47 per share, versus analysts’ expected loss, and revenue of $232.87 million, above the $196.36 million consensus. The earnings improvement from a loss a year earlier and the revenue beat are positive indicators for the business. Core Scientific surpasses Q3 earnings and revenue estimates
• Neutral Sentiment: Analyst views remain broadly favorable but mixed: the cited coverage included a “sell” rating and a price-target cut, alongside buy ratings and a reported average target above the recent share price. These views may offer context but do not guarantee a near-term rebound. Core Scientific insider and analyst coverage
• Negative Sentiment: Insider Todd DuChene sold 10,000 shares for about $127,800, a 0.88% reduction in his holdings. The sale could weigh modestly on sentiment, though he retained more than 1.1 million shares afterward. Core Scientific insider sale

Core Scientific Company Profile

Core Scientific, Inc is a digital infrastructure company that develops and operates data centers for high-performance computing. The company has historically focused on bitcoin mining, using specialized computing equipment and supporting infrastructure to validate transactions on the Bitcoin network. It also provides hosting and infrastructure services for other digital asset miners.

Core Scientific is expanding its business toward hosting high-performance computing and artificial intelligence workloads.

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