{"schema_version":"secwatch.filing_event.v1","accession":"0001609253-23-000037","form_type":"8-K","ticker":"CRC","cik":"0001609253","company_name":"California Resources Corp","filed_at":"2023-05-02T23:59:59+00:00","discovered_at":"2026-05-14T18:03:39.653882+00:00","generated_at":"2026-06-16T03:33:17.545256+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"CRC posts record Q1 net income $301M; raises 2023 free cash flow guidance 8%","bullets":["Net income $301M ($4.09/diluted); adjusted net income $193M ($2.63/diluted). Revenue $1,024M.","Free cash flow $263M; raised 2023 FCF guidance to $360-$470M; lowered op costs to $815-$865M.","Produced 89,000 Boe/d (55,000 bbl/d oil); E&P capex $40M in Q1; maintained 85-91 MBoe/d 2023 guidance.","Declared $0.2825 dividend payable June 16; repurchased 1.4M shares for $59M in Q1; $519M total returned.","Appointed Manuela Molina as CFO (May 8); Francisco Leon became CEO Feb 24; hired A&M for $25-50M cost cuts."],"urls":{"canonical":"https://secwatch.observer/filing/0001609253-23-000037","json":"https://secwatch.observer/filing/0001609253-23-000037.json","markdown":"https://secwatch.observer/filing/0001609253-23-000037.md","text":"https://secwatch.observer/filing/0001609253-23-000037.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1609253/000160925323000037/0001609253-23-000037-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1609253/000160925323000037/crc-20230501.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-16T03:33:17.545256+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"4ea70f9fd8d156333e556c55e607d6e7cf1a1faf","claim":"California Resources Corp reported first quarter 2023 results: net income $301 million, EPS $4.09 per diluted share. Guidance raised.","evidence_excerpt":"Reported net income of $301 million, or $4.09 per diluted share.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1609253/000160925323000037/0001609253-23-000037-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"first quarter 2023"},{"label":"Net income","value":"$301 million"},{"label":"EPS","value":"$4.09 per diluted share"},{"label":"Guidance","value":"raised"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}