CRC Q2 net income $97M ($1.35 EPS); adjusted EPS $0.53; narrows FCF guidance to $380-460M

California Resources Corp

2023-Q2 EPS reported $5.47 revenue$1,615,000,000

Net income $97M ($1.35 diluted EPS); adjusted net income $38M ($0.53 diluted EPS).
Revenue $591M; net production 86 MBoe/d; E&P capex $35M.
Declared $0.2825/share dividend payable Sept 15; repurchased 1.6M shares for $64M in Q2.
Submitted Class VI permit for 17 MMT CO2 storage; total permitted capacity 191 MMT; new CDMA with Verde Clean Fuels (100 KMTPA).
Narrows 2023 FCF guidance to $380-460M; lowers operating cost guidance to $815-850M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

California Resources Corp reported second quarter 2023 results: net income $97 million, or $1.35 per diluted share, EPS $1.35 per diluted share. Guidance reaffirmed.

Period: second quarter 2023
Net income: $97 million, or $1.35 per diluted share
EPS: $1.35 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

On July 31, 2023, California Resources Corporation (the “Company”) issued a press release announcing its financial condition and results of operations for the three and six months ended June 30, 2023.

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California Resources Corp filing history →

Source: SEC EDGAR

accession 0001609253-23-000073

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