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California Resources Corp (CRC)
NYSE:CRC
RESEARCH TOOLSreports
Earnings Data
Report Date
May 07, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.85Last Year’s EPS
0.75Same Quarter Last Year
Strong Buy
Based on 10 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Mar 03, 2025
|% Change Since: -21.20%
|Next Earnings Date:May 06, 2025
Earnings Call Sentiment|Positive
CRC demonstrated strong financial performance and growth in its carbon management and power segments, achieving significant cost reductions and synergies. However, stock price challenges and dependence on regulatory approvals pose potential risks. The company's proactive measures in shareholder returns and strategic partnerships indicate a positive outlook.Company Guidance
During the California Resources Corporation's fourth quarter and year-end 2024 earnings call, the company highlighted several key metrics and strategic initiatives. They reported net production of 141,000 BOE per day and realized oil prices at 99% of Brent. Cost discipline led to $316 million in adjusted EBITDAX and $118 million in free cash flow. The company also achieved a 4% reduction in operating and transportation costs, totaling $344 million. For 2025, CRC plans to invest $285 million to $335 million, with $165 million to $180 million allocated to drilling, completions, and workover capital. They anticipate generating $1.1 to $1.2 billion in adjusted EBITDAX at $73 per barrel Brent. Additionally, CRC is advancing its carbon management business, with nearly nine million metric tons per annum of carbon management projects under consideration and an estimated total storage capacity of 287 million metric tons. The company returned about 85% of 2024 free cash flow to shareholders through dividends and share repurchases.Record-Breaking Financial Performance
CRC delivered over $1 billion of adjusted EBITDAX and generated $355 million in free cash flow for 2024. Additionally, CRC returned 85% of 2024 free cash flow to shareholders through dividends and share repurchases.
Significant Cost Reductions and Synergies
CRC achieved 70% of its targeted era-related synergies, improving its 2025 cost structure. Combined operating and transportation costs came in 4% lower than initial guidance, totaling $344 million.
Expansion in Carbon Management
CRC announced a new deal with National Cement and received the nation's first EPA class six permits, with nearly nine million metric tons per annum of carbon management projects under consideration.
Strong Balance Sheet and Shareholder Returns
CRC maintained a strong balance sheet with more than $1 billion of liquidity and rebuilt cash on hand to more than $350 million. The company also increased its dividend by 25%.
Growth in Power and AI Data Centers
CRC is actively pursuing agreements with multiple AI data centers in California and expects to expand the value of its power offering with new power purchase agreements.
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CRC 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
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CRC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Mar 03, 2025 | $44.20 | $39.36 | -10.95% |
| Nov 05, 2024 | $53.10 | $55.95 | +5.37% |
| Aug 06, 2024 | $42.29 | $44.66 | +5.60% |
| May 07, 2024 | $51.38 | $48.62 | -5.37% |
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.
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FAQ
When does California Resources Corp (CRC) report earnings?
California Resources Corp (CRC) is schdueled to report earning on May 07, 2025, TBA Not Confirmed.
What is California Resources Corp (CRC) earnings time?
California Resources Corp (CRC) earnings time is at May 07, 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 CRC EPS forecast?
CRC EPS forecast for the fiscal quarter 2025 (Q1) is 0.85.
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