---
schema_version: "secwatch.filing_event.v1"
accession: "0001609253-25-000034"
form_type: "8-K"
ticker: "CRC"
cik: "0001609253"
company_name: "California Resources Corp"
filed_at: "2025-05-06T23:59:59+00:00"
generated_at: "2026-05-22T12:04:56.645446+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# CRC reports Q1 net income of $115M, returns $258M to stakeholders, reaffirms 2025 guidance

## Summary
- Net income $115M ($1.26 diluted EPS); adjusted net income $98M ($1.07 adjusted EPS).
- Adjusted EBITDAX $328M; free cash flow $131M; production flat at 141 MBoe/d (79% oil).
- Returned $258M to stakeholders: $100M buybacks, $35M dividends, $123M debt repurchases.
- Reaffirmed full-year 2025 guidance: production 132-138 MBoe/d, capital $285-335M, adjusted EBITDAX $1.1-1.2B.
- Board declared $0.3875/share dividend payable June 13; share repurchase authorization remaining $457M.

## SEC filing metadata
- accession: 0001609253-25-000034
- form_type: 8-K
- ticker: CRC
- cik: 0001609253
- company_name: California Resources Corp
- filed_at: 2025-05-06T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 5.07, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1609253/000160925325000034/0001609253-25-000034-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1609253/000160925325000034/crc-20250502.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001609253-25-000034
- JSON: https://secwatch.observer/filing/0001609253-25-000034.json
- Plain text: https://secwatch.observer/filing/0001609253-25-000034.txt

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