---
schema_version: "secwatch.filing_event.v1"
accession: "0001609253-24-000059"
form_type: "8-K"
ticker: "CRC"
cik: "0001609253"
company_name: "California Resources Corp"
filed_at: "2024-05-07T23:59:59+00:00"
generated_at: "2026-06-02T18:34:55.096589+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# CRC reports Q1 net loss of $10M, adj. EPS $0.75; returns $79M to shareholders

## Summary
- Net loss of $10M ($0.14 loss per share); adjusted net income $54M ($0.75 per share).
- Q1 adjusted EBITDAX $149M, free cash flow $33M; net cash from operations $87M.
- Returned $79M to shareholders via $58M buybacks and dividends; YTD nearly $95M.
- Aera Merger on track: definitive proxy filed, HSR cleared, expected close mid-2024.
- Board elected Christian S. Kendall; declared $0.31/share dividend payable June 14.

## SEC filing metadata
- accession: 0001609253-24-000059
- form_type: 8-K
- ticker: CRC
- cik: 0001609253
- company_name: California Resources Corp
- filed_at: 2024-05-07T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 5.07, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1609253/000160925324000059/0001609253-24-000059-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1609253/000160925324000059/crc-20240503.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001609253-24-000059
- JSON: https://secwatch.observer/filing/0001609253-24-000059.json
- Plain text: https://secwatch.observer/filing/0001609253-24-000059.txt

## Key facts
- Earnings Releases
  California Resources Corp reported the three months ended March 31, 2024 results: net income $10 million, or $0.14 per diluted share.
  - Period: the three months ended March 31, 2024
  - Net income: $10 million, or $0.14 per diluted share
  - Result: reported results
  source text: On May 7, 2024, California Resources Corporation (the “Company”) issued a press release announcing its financial condition and results of operations for the three months ended March 31, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1609253/000160925324000059/0001609253-24-000059-index.htm

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