CRC Q3 adj. net income $74M ($1.02/diluted); dividend raised 10% to $0.31

California Resources Corp

2023-Q3 EPS reported $5.18 revenue$2,075,000,000

Net loss $22M ($0.32 loss/diluted); adjusted net income $74M ($1.02/diluted).
Generated $71M free cash flow in Q3; YTD FCF $403M; returned 52% to shareholders.
Dividend raised 10% to $0.31/share (payable Dec 15, record Dec 1).
Narrowed 2023 production to 85-87 MBoe/d and capex to $185-210M; raised gas marketing margin guidance.
Carbon management: Elk Hills capture-storage project (100k MTPA) by end 2025; CDMA with NLCE for 150k MTPA.

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 0.9

California Resources Corp reported the three and nine months ended September 30, 2023 results: net income $22 million, or $0.32 per diluted share, EPS $0.32 per diluted share.

Period: the three and nine months ended September 30, 2023
Net income: $22 million, or $0.32 per diluted share
EPS: $0.32 per diluted share
Result: reported results

Exact text from the filing

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

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California Resources Corp filing history →

Source: SEC EDGAR

accession 0001609253-23-000079

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