California Resources Corp (CRC) Earnings Dates, Call Summary & Reports

Compare

335 Followers

Earnings Data

Report Date

May 12, 2026

After Close (Confirmed)

Period Ending

2026 (Q1)

Consensus EPS Forecast

0.59

Last Year’s EPS

1.07

Same Quarter Last Year

Analyst Consensus

Strong Buy

Based on 13 Analysts Ratings

Earnings Call Summary

Q4 2025

Earnings Call Date:Mar 02, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call emphasized strong operational execution, record financial results, meaningful cost-synergy progress, resumed permitting, balance sheet strength and advancing CCS/power platforms — all supporting durable cash flow and shareholder returns. Headwinds include a ~14% YoY commodity price decline, softer resource adequacy payments, remaining regulatory approvals for CCS, gas-price weakness in California, and timing risk related to permits and multi-year redevelopment projects. On balance, the positive operational and financial developments, clear capital allocation discipline, and derisking of strategic initiatives outweigh the listed challenges.

Company Guidance

CRC's 2026 guidance targets roughly $1.0 billion of adjusted EBITDAX at $65 Brent, with total capital spending of about $450 million (including $280–300 million of drilling, completions and workover capital to support a 4‑rig program), net production up ~12% year‑over‑year to ~155,000 Boe/d (≈81% oil) with ~2/3 of expected oil hedged at $65 Brent, and a program designed to cut corporate decline to roughly 2% (≈0.5% QoQ) to keep production effectively flat during the year; project-level economics are ~$9/Boe of development cost, ~4x MOIC, mid‑40% IRR at $65 Brent and ~3‑year payout, the company plans to reinvest <50% of cash flow while maintaining ~1x leverage and ~$1.4 billion liquidity (remaining buyback capacity ≈$600 million after a $430 million increase), and key breakevens are competitive — upstream maintenance in the low‑ to mid‑$50s WTI (~$54 WTI / ~$58 Brent) with a fully burdened corporate breakeven near $60 Brent (on‑hedge corporate maintenance mid‑$50s WTI); holding 2026 exit flat into steady state would require ~7 rigs and ~$485 million of D&C/workover.

Production Growth and Guidance

Net production increased 25% year-over-year to ~138,000 Boe/d for the full year (Q4 ~137,000 Boe/d). 2026 guidance targets ~155,000 Boe/d (midpoint), a ~12% year-over-year increase, supported by a 4-rig program and a mix weighted toward low-risk development and workovers.

Record Financial Results and Free Cash Flow

CRC reported nearly $1.25 billion of adjusted EBITDAX for the year and $543 million of free cash flow (the highest level since 2021). Q4 adjusted EBITDAX was $251 million and Q4 free cash flow was $115 million (includes 14 days from Berry).

Capital Allocation and Shareholder Returns

Since 2021 CRC has returned nearly $1.6 billion to shareholders. In 2025 the company returned ~94% of free cash flow via dividends and share repurchases. The Board increased the buyback authorization by $430 million, leaving ~ $600 million remaining capacity and extended the program through 2027.

Balance Sheet Strength and Liquidity

Exited 2025 at ~1x leverage with total liquidity of $1.4 billion. Completed refinancing actions (including redemption of 2026 notes) that expanded commitments and improved ratings, enhancing financial flexibility and lowering cost of capital.

Inventory and Reserve Base Depth

Expanded disclosure: ~1.2 billion Boe 2P inventory supporting ~20+ years of development at current rates. 1P reserve replacement ratio cited at 350% (driven by permits, stronger-than-expected base decline management and the Berry acquisition).

Cost Reductions and Synergy Capture

Delivered ~$300 million of structural cost reductions since 2023 (primarily from the Aera integration). Targeting $80–$90 million of Berry synergies and ~$450 million of cumulative savings by year-end 2028 (company cited ~$0.5 billion cumulative target), with current run-rate operating expenses ~$550 million below the pro forma pre-merger baseline.

Capital Efficiency and Project Economics

2026 development program: ~$9/Boe of development cost, ~4x multiple on invested capital, mid-40% IRR at $65 Brent and ~3-year payout. Corporate-level maintenance plan yields lower capital intensity than legacy CRC: flat-exit maintenance would require ~7 rigs and ~ $485 million D&C/workover capital (20% less than legacy), with oil & gas breakeven ~ $54 WTI / ~$58 Brent and a fully burdened corporate breakeven roughly ~$60 Brent.

Regulatory and Permitting Momentum

Permitting has resumed with the majority of permits required to execute the 2026 program in hand, improving visibility into 2027. Management highlighted a step-change in permitting cadence compared with recent years, enabling planned drill programs and capital sequencing flexibility.

Carbon TerraVault (CCS) and Power Platform Progress

Construction complete on the Elk Hills commercial-scale CCS project; commissioning and testing underway with first CO2 capture achieved; awaiting final EPA approval to commence injection. Filed additional adjacent capacity (~27 million tons) and cited up to ~1 billion tons of potential storage across projects. Progress on power platform and data-center focused 'permitted & powered land' efforts; CRC expects CCS + power to add durable, diversified cash flows over time.

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
May 12, 2026	2026 (Q1)	0.59 / -	1.07	―	―	―
Mar 02, 2026	2025 (Q4)	0.51 / 0.47	0.91	-48.35% (-0.44)
Nov 04, 2025	2025 (Q3)	1.26 / 1.46	1.5	-2.67% (-0.04)
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)

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
Mar 02, 2026	$58.46	$61.11	+4.54%
Nov 04, 2025	$45.95	$45.58	-0.82%
Aug 05, 2025	$46.72	$47.69	+2.07%
May 06, 2025	$34.39	$37.26	+8.34%

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 May 12, 2026, After Close (Confirmed).

What is California Resources Corp (CRC) earnings time?

California Resources Corp (CRC) earnings time is at May 12, 2026, 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 2026 (Q1) is 0.59.