The earnings call highlighted significant achievements in shareholder returns, operational efficiency, and strategic advancements in carbon capture projects. However, challenges remain in regulatory approvals for new permits and the timeline for CCS project completion. Despite these challenges, the company's performance and strategic direction indicate a strong position moving forward.

Company Guidance

During the California Resources Corporation's second-quarter 2025 conference call, the company provided several key metrics reflecting strong performance and strategic advancements. The company returned nearly $290 million to shareholders, which amounts to more than 260% of their free cash flow, primarily due to a discounted share repurchase. They achieved merger synergies of $235 million ahead of schedule, with an estimated net present value of $1.4 billion. The company's operational performance led to a 7% increase in adjusted EBITDAX, with net production recorded at 137,000 BOE per day and adjusted EBITDAX for the quarter totaling $324 million. They generated $109 million in free cash flow or $165 million before changes in working capital. CRC expects a 9% improvement in their 2025 free cash flow outlook despite lower oil prices and plans to retire their remaining 2026 note in the second half of the year. Total capital for the quarter was $56 million, with 60% allocated to high-return workovers and sidetracks. The company maintains low leverage at 0.7x, with total liquidity over $1 billion. Looking ahead, CRC plans to focus on California's energy transition, anticipating greater regulatory flexibility that could enhance their extensive inventory access.

Record Quarterly Returns to Shareholders

Returned nearly $290 million this quarter, more than 260% of free cash flow, facilitated by a discounted share repurchase from ICA.

ARA-related Merger Synergies Implemented Ahead of Schedule

Achieved $235 million in synergies three months ahead of schedule with a net present value of approximately $1.4 billion over the next 10 years.

Operational Excellence and Improved Full Year Outlook

Operational execution and reservoir performance exceeded expectations, resulting in a roughly 7% increase in adjusted EBITDAX.

Successful Cost Management

First half 2025 costs were down approximately 11% from the second half of 2024, with nearly all costs below guidance.

Cash Flow and Capital Returns

Generated $109 million of free cash flow and returned a record $287 million to shareholders in the second quarter.

Low Leverage and Strong Liquidity

Leverage remains low at 0.7x with total liquidity over $1 billion.

CCS Project Progress

CTV JV received construction authorization from the EPA, with plans to complete by year-end 2025.

California Resources Corp (CRC) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

CRC Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 06, 2025	2025 (Q3)	1.26 / -	1.5	―	―	―
Aug 05, 2025	2025 (Q2)	0.90 / 1.10	0.6	83.33% (+0.50)
May 06, 2025	2025 (Q1)	0.81 / 1.07	0.75	42.67% (+0.32)
Mar 03, 2025	2024 (Q4)	0.99 / 0.91	0.93	-2.15% (-0.02)
Nov 05, 2024	2024 (Q3)	1.26 / 1.50	1.02	47.06% (+0.48)
Aug 06, 2024	2024 (Q2)	0.83 / 0.60	0.53	13.21% (+0.07)
May 07, 2024	2024 (Q1)	0.71 / 0.75	2.63	-71.48% (-1.88)
Feb 27, 2024	2023 (Q4)	0.99 / 0.93	1.24	-25.00% (-0.31)
Nov 01, 2023	2023 (Q3)	0.88 / 1.02	1.45	-29.66% (-0.43)
Jul 31, 2023	2023 (Q2)	0.74 / 0.53	1.13	-53.10% (-0.60)

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

CRC Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 05, 2025	$47.43	$48.41	+2.07%
May 06, 2025	$34.91	$37.82	+8.34%
Mar 03, 2025	$43.46	$38.70	-10.95%
Nov 05, 2024	$52.21	$55.01	+5.36%

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 California Resources Corp (CRC) report earnings?

California Resources Corp (CRC) is schdueled to report earning on Nov 06, 2025, After Close (Confirmed).

What is California Resources Corp (CRC) earnings time?

California Resources Corp (CRC) earnings time is at Nov 06, 2025, 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 CRC EPS forecast?

CRC EPS forecast for the fiscal quarter 2025 (Q3) is 1.26.

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