CRC reports record 2022 operating cash flow of $690M, raises buyback to $1.1B

California Resources Corp

2022-FY EPS reported $6.75 revenue$2,707,000,000

Full-year 2022 net income $524M ($6.75 diluted EPS); adjusted net income $384M ($4.95 diluted EPS).
Record operating cash flow $690M, free cash flow $311M; returned $372M to shareholders in 2022.
Share repurchase program increased by $250M to $1.1B, extended through June 30, 2024; $640M remaining.
2023 guidance: production 85-91 MBoe/d, capital $200-245M, free cash flow $330-440M.
Carbon management: signed two CDMAs for 470,000 MT CO2/year; formed consortium for California DAC Hub.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

California Resources Corp reported twelve months ended December 31, 2022 results: net income $524 million, EPS $6.75 per diluted share. Guidance initiated.

Period: twelve months ended December 31, 2022
Net income: $524 million
EPS: $6.75 per diluted share
Guidance: initiated
Result: reported results

Exact text from the filing

Annual Highlights • Reported net income attributable to common stock of $524 million, or $6.75 per diluted share.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

California Resources Corp reported three months ended December 31, 2022 results: net income $83 million, EPS $1.11 per diluted share. Guidance initiated.

Period: three months ended December 31, 2022
Net income: $83 million
EPS: $1.11 per diluted share
Guidance: initiated
Result: reported results

Exact text from the filing

Fourth Quarter 2022 Highlights Financial • Reported net income of $83 million, or $1.11 per diluted share.

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44 earnings releases filed in the last 30 days. Browse all earnings releases →

California Resources Corp filing history →

Source: SEC EDGAR

accession 0001609253-23-000015

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