8-K
filed May 5, 2026, 7:59 PM ET
ticker CRC
CIK 0001609253
earnings
confidence high
sentiment positive
materiality 0.75
CRC Q1 net loss $711M from derivatives; adjusted EBITDAX $304M; raises 2026 guidance 42%
California Resources Corp
2026-Q1 EPS reported
-$8.02
revenue$119,000,000
- Q1 net loss $711M primarily from non-cash loss in fair value of commodity derivatives; adjusted net income $79M, adjusted EBITDAX $304M.
- Raised 2026E adjusted EBITDAX guidance midpoint 42% to $1,450M; capital budget increased to $520-560M with 7-rig program in H2.
- Average net production 154 MBoe/d (81% oil); oil volumes reduced ~1.5 Mbo/d due to higher oil prices on production sharing contracts.
- Declared quarterly dividend $0.405/share payable June 18; returned $46M to shareholders in Q1 via dividends and buybacks.
- Completed $350M senior notes offering due 2034; redeemed $350M 2029 notes; liquidity $1,276M at March 31.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.85
California Resources Corp updated its the three months ended March 31, 2026 guidance (raised).
- Period
- the three months ended March 31, 2026
- Guidance
- raised
- Result
- reported results
Exact text from the filing
On May 5, 2026, California Resources Corporation (the “Company”) issued a press release announcing its financial condition and results of operations for the three months ended March 31, 2026.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
California Resources Corp shareholders approved Election of nine director nominees at the 2026-04-30 meeting.
- Proposal
- director election
- Outcome
- passed
- Meeting
- 2026-04-30
Exact text from the filing
The nine director nominees named in the Company’s proxy statement were elected with the following votes: Nominee For Withheld Broker Non-Votes Andrew Bremner 80,957,744 478,389 2,978,368 Tiffany (TJ) Thom Cepak 81,114,915 321,218 2,978,368 James N. Chapman 80,761,492 674,641 2,978,368 James R. Jackson 81,279,400 156,733 2,978,368 Christian S. Kendall 78,671,214 2,764,919 2,978,368 Francisco J. Leon 81,280,018 156,115 2,978,368 Mark A. (Mac) McFarland 81,280,348 155,785 2,978,368 William B. Roby 80,358,733 1,077,400 2,978,368 Alejandra (Ale) Veltmann 80,392,617 1,043,516 2,978,368
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
California Resources Corp shareholders approved Advisory vote to approve named executive officer compensation at the 2026-04-30 meeting.
- Proposal
- say on pay
- Outcome
- passed
- Meeting
- 2026-04-30
Exact text from the filing
The advisory vote to approve named executive officer compensation was approved. The proposal received 68,885,474 votes for; 12,331,300 votes against; 219,359 abstentions; and 2,978,368 broker non-votes.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
California Resources Corp shareholders approved Ratification of selection of KPMG LLP as independent registered public accounting firm for fiscal year ending December 31, 2026 at the 2026-04-30 meeting.
- Proposal
- auditor ratification
- Outcome
- passed
- Meeting
- 2026-04-30
Exact text from the filing
The ratification of the selection of KPMG LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2026 was approved. The proposal received 84,090,991 votes for; 196,747 votes against; and 126,763 abstentions.
View on SEC.gov
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