CRC reports Q3 net income $345M, adj EPS $1.50, free cash flow $141M; guides Q4 EBITDAX $260-300M

California Resources Corp

2024-Q3 EPS reported $4.42 revenue$2,321,000,000

Net income $345M ($3.78 diluted EPS); adjusted net income $137M ($1.50); adjusted EBITDAX $402M.
Generated $141M free cash flow; returned $76M to shareholders ($42M buybacks, $34M dividends).
Net production 145 MBoe/d (oil 113 MBo/d); Q4 guidance 140-144 MBoe/d, capital $85-105M, adj EBITDAX $260-300M.
Completed $300M follow-on offering of 8.250% notes due 2029 and repurchased $300M of 2026 notes; extended credit facility to March 2029.
Received first conditional use permits for Carbon TerraVault CCS project in Kern County; signed MOU with Hull Street Energy for CCS.

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