---
schema_version: "secwatch.filing_event.v1"
accession: "0001609253-21-000100"
form_type: "8-K"
ticker: "CRC"
cik: "0001609253"
company_name: "California Resources Corp"
filed_at: "2021-08-05T23:59:59+00:00"
generated_at: "2026-06-29T21:43:17.278841+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# CRC Q2 adj net income $78M; raises FCF guidance to $400-500M, buyback to $250M

## Summary
- Q2 2021 net loss $111M ($1.34/diluted share); adjusted net income $78M ($0.94/share).
- Free cash flow guidance raised to $400-500M from $250-350M; adjusted EBITDAX guidance to $725-825M.
- Board increased share repurchase program to $250M from $150M through March 2022.
- Signed agreement to sell Ventura basin ops for up to $102M; post-quarter acquired MIRA JV interest for $53M.
- Elected Nicole Neeman Brady to the Board; advancing Carbon TerraVault I CCS project with ~40 MMT storage capacity.

## SEC filing metadata
- accession: 0001609253-21-000100
- form_type: 8-K
- ticker: CRC
- cik: 0001609253
- company_name: California Resources Corp
- filed_at: 2021-08-05T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1609253/000160925321000100/0001609253-21-000100-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1609253/000160925321000100/crc-20210805.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001609253-21-000100
- JSON: https://secwatch.observer/filing/0001609253-21-000100.json
- Plain text: https://secwatch.observer/filing/0001609253-21-000100.txt

## Key facts
- Executive change
  Nicole Neeman Brady was elected as Director at California Resources Corp.
  - Action: elected
  - Role: Director
  source text: On August 5, 2021, the Board of Directors (the “Board”) of the Company elected Ms. Nicole Neeman Brady to fill a vacancy on the Board.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1609253/000160925321000100/0001609253-21-000100-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.