Pre-earnings brief
Reports
Tue, Mar 28, 2023
Est. EPS
—
Est. revenue
—
Implied move
±3.2%
EPS beat rate
50%
Core Scientific, Inc. operates in the Information Technology sector, focusing on application software. The company plays a crucial role in the growing fields of cloud computing and artificial intelligence, providing solutions that help businesses optimize their operations and data management.
Last quarter
In the last quarter, Core Scientific reported a significant earnings miss, with an EPS of -$3.32 compared to expectations of -$0.02. Despite this, the stock saw a slight increase the following day, indicating some investor optimism.
EPS beat streak
0Q
EPS beat rate
50%
Avg EPS surprise
-2922.33%
Avg 1-day reaction
+3.43%
Overall, expectations for this quarter are mixed, given the company's recent performance and lack of analyst estimates. Investors are looking for signs of recovery or further declines.
Bull case
If Core Scientific can show a strong rebound in revenue and a smaller EPS loss than last quarter, it could signal a turnaround, boosting investor confidence.
Bear case
Conversely, if the company reports another significant loss and weak revenue growth, it could lead to further declines in stock price and investor sentiment.
The print will turn on these.
Q1
What is the expected revenue growth for this quarter?
Revenue growth will be a key indicator of the company's ability to recover from previous losses and attract new customers.
Q2
How does management plan to address the recent EPS losses?
Management's strategy for improving profitability will be crucial for investor confidence and future stock performance.
Est. EPS
—
Est. Rev
—
Impl. Move
—
Why consensus could be wrong
The Street may be underestimating the potential for Core Scientific to recover from its recent losses, as the company's unique positioning in the AI and cloud sectors could lead to a faster rebound than anticipated.
Supporting evidence
Options are pricing a 3.23% move, but the stock has averaged a 4.39% move historically, suggesting potential for a larger reaction.
The recent insider selling may indicate a lack of confidence in the short-term outlook, which could be misread by the market.
Key risk
If revenue growth exceeds expectations, it could shift the narrative and lead to a more favorable outlook.
Pre-commit to what would confirm each case.
The core thesis revolves around the company's ability to recover from significant losses and demonstrate growth in a competitive market.
Bull confirmed if
A revenue growth of at least 10% compared to the previous quarter would confirm the bull case.
Bear confirmed if
An EPS loss greater than -$3.32 would confirm the bear case.
What the market is pricing for the move.
Implied Move
±3.23%
Historical Avg
±4.4%
The options market is pricing in a modest move, suggesting that investors are uncertain about the upcoming earnings report.
Options are pricing ±3.2% while CORZ has averaged ±4.4% over the last 8 prints — setup is pricing cheap.
ATM IV
0.8%
30d HV
58.2%
Cross-company pattern from 15 similar setups.
Prior-quarter miss + options pricing cheap in Information Technology
Fade rate: 6 of 15 (40%)
This setup has occurred 15 times across Information Technology in the last 2 years. 6 of 15 faded and 9 held — no strong directional bias after the initial reaction. The average absolute 1-day move is 5.8%, with a raw directional average of -2.2% (modestly negative historical bias).
Open-market trades by officers, directors, and 10%+ holders over the trailing 90 days.
Bought
$0.00
0 sh
0 insiders
Sold
$330,642.00
20,000 sh
1 insider
Net
$330,642.00
Net selling
Most Active Insiders· 2 open-market trades
$330,642.00
Net selling
Likely market behavior by outcome. Not investment advice.
Beat & raise
If Core Scientific beats expectations, history suggests a potential stock increase of around +0.92%, confirming a positive outlook.
In line / cautious
If results are in line with expectations but management is cautious, the stock may see minimal movement as investors digest the information.
Miss
If the company misses expectations again, history suggests a potential decline of around +5.94%, which could further dampen investor sentiment.
The lines on the call that would change the story.
Recent Transactions
Sep 28, 2026 · @ $16.76
10,000 sh
$167,586.00
Oct 5, 2026 · @ $16.31
10,000 sh
$163,056.00
Open-market trades only (Form 4 codes P/S). Awards, exercises, and tax-withholding excluded as routine compensation noise.