California Resources Corporation (CRC) Financials
Key financial figures for California Resources Corporation (Q2 2026).
California Resources posted GAAP net income of $514 million (diluted EPS $5.76) on average net production of 149 MBoe/d, while adjusted net income of $88 million (adjusted diluted EPS $0.99) missed consensus. GAAP net income was $514 million ($5.76 diluted EPS), up sharply from $172 million ($1.92 diluted EPS) in Q2 2025, though adjusted net income of $88 million (adjusted diluted EPS $0.99) came in below Wall Street's consensus estimate near $1.37. Adjusted EBITDAX was $338 million, essentially flat with Q2 2025's $324 million. Average net production was 149 MBoe/d (81% oil), down from 154 MBoe/d in Q1 2026. Free cash flow was $114 million, a swing from -$32 million of free cash flow in Q1 2026. Capital investments were $149 million and operating cash flow was $263 million for the quarter. On the outlook: For Q3 2026, California Resources guided to net production of 151-154 MBoe/d (80% oil), Adjusted EBITDAX of $360-$380 million, and capital investments of $82-$92 million. Figures are for Q2 2026, as California Resources Corporation reported them.
- Revenue
- $1.3B
- Net Income
- $514M
- EPS
- $5.79
- Total Assets
- $7.1B
- Operating Cash Flow
- $263M
Recent quarters
| Period | Revenue | Net Income | EPS | Operating Margin | Free Cash Flow |
|---|---|---|---|---|---|
| Q2 FY2026 | $1.3B | $514M | $5.76 | 39.4% | $114M |
| Q1 FY2026 | $967M | -$711M | -$8.02 | 22.23% | -$22M |
| Q4 FY2025 | $871M | $12M | $0.14 | 18.25% | $116M |
| Q3 FY2025 | $878M | $64M | $0.76 | 20.5% | $187M |
| Q2 FY2025 | $821M | $172M | $1.92 | 21.68% | $109M |
Recent fiscal years
| Period | Revenue | Net Income | EPS | Operating Margin | Free Cash Flow |
|---|---|---|---|---|---|
| FY2025 | $3.6B | $363M | $4.15 | 23.64% | $543M |
| FY2024 | $3.0B | $376M | $4.62 | 22.02% | $350M |
| FY2023 | $2.8B | $564M | $7.78 | 31.78% | $460M |
Frequently asked questions
What was California Resources Corporation's revenue last quarter?
California Resources Corporation reported revenue of $1.30 billion for Q2 FY2026, up 58.0% from the same period a year earlier.
Is California Resources Corporation profitable?
Yes. California Resources Corporation reported net income of $514.0 million for Q2 FY2026, a net margin of 39.63% on revenue.
How has California Resources Corporation's margin trended?
Operating margin was 39.4% in Q2 FY2026, compared with 21.68% in the same period a year earlier. The quarter by quarter series is on the SentiSense financials page.
How much free cash flow did California Resources Corporation generate?
California Resources Corporation generated free cash flow of $114.0 million in Q2 FY2026, after capital expenditure.
Full income statement, balance sheet and cash flow for California Resources Corporation on SentiSense, with up to forty quarters and twenty fiscal years of history.