CRC reports Q4 net income $12M, 2025 net income $363M; 2026 production growth guidance 12%

California Resources Corp

Q4 net income $12M, adjusted net income $40M; full-year net income $363M, adjusted $359M. Adjusted EBITDAX $251M Q4, $1,241M full year.
Full-year 2025 average production 138 MBoe/d, up 25% YoY; free cash flow $543M, highest since 2021.
Increased annual dividend by 5% to $1.62; declared Q1 2026 dividend of $0.405/share payable March 20, record March 13.
2026 guidance: production 152-157 MBoe/d (~12% growth), capex $430-470M, adjusted EBITDAX $970-1,070M.
Board increased share repurchase program by $430M to $1.78B through Dec 2027; $600M capacity remaining as of Feb 28, 2026.

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