secwatch.observer — SEC 8-K summary
======================================

Issuer:     California Resources Corp (CRC)
CIK:        0001609253
Form:       8-K
Filed at:   2025-05-06T23:59:59+00:00
Accession:  0001609253-25-000034
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 5.07, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1609253/000160925325000034/0001609253-25-000034-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1609253/000160925325000034/crc-20250502.htm
  HTML page:      https://secwatch.observer/filing/0001609253-25-000034

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer