---
schema_version: "secwatch.filing_event.v1"
accession: "0001609253-23-000073"
form_type: "8-K"
ticker: "CRC"
cik: "0001609253"
company_name: "California Resources Corp"
filed_at: "2023-07-31T23:59:59+00:00"
generated_at: "2026-06-12T22:03:20.803959+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001609253-23-000073
- form_type: 8-K
- ticker: CRC
- cik: 0001609253
- company_name: California Resources Corp
- filed_at: 2023-07-31T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1609253/000160925323000073/0001609253-23-000073-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1609253/000160925323000073/crc-20230731.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001609253-23-000073
- JSON: https://secwatch.observer/filing/0001609253-23-000073.json
- Plain text: https://secwatch.observer/filing/0001609253-23-000073.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1609253/000160925323000073/0001609253-23-000073-index.htm

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