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Broke on Nov 06, 2026 · measured target $39.41 (-16%). Details →
Nov 2, 4:45 PM ET
California Resources reported a third-quarter 2026 net loss of $315 million, compared with net income of $514 million in the second quarter, driven by a non-cash $540 million loss from changes in the fair value of commodity derivatives. Adjusted net income rose to $104 million ($1.17 per diluted share) from $88 million in the second quarter, though it was below $123 million a year earlier, and adjusted EBITDAX of $341 million exceeded company guidance. The board raised the anticipated annual dividend about 4% to $1.68 per share.
- Net loss of $315 million, or $3.55 per diluted share, versus net income of $514 million in Q2 2026; total operating revenues were $421 million versus $1,297 million in Q2
- Adjusted net income of $104 million ($1.17 per diluted share) versus $123 million in Q3 2025
- Adjusted EBITDAX of $341 million exceeded quarterly guidance; 4Q26 adjusted EBITDAX guidance is $340 million to $380 million
- Quarterly dividend of $0.42 per share, payable December 18, 2026 to holders of record on December 4, 2026; $570 million remained under the repurchase authorization as of September 30, 2026
Read the filing on SEC.gov ↗
Oct 13, 8:31 AM ET
California Resources disclosed preliminary, unaudited realized prices and commodity derivative results for the three months ended September 30, 2026. Oil realized $72.46 per barrel after derivative settlements, compared with $83.42 before settlements, and the company estimates a $134 million loss from derivative settlements. The filing does not provide full quarterly earnings, and the company says final results could differ.
- Oil realized price was $72.46 per barrel with derivative settlements, versus $83.42 per barrel without them.
- Brent index price was $91.36 per barrel and WTI was $85.79 per barrel for the period.
- Estimated derivative settlement loss of $134 million, including $122 million on commodity sales derivatives and $12 million on natural gas purchase derivatives.
- The figures are preliminary and unaudited and are not a full earnings estimate.
Read the filing on SEC.gov ↗
Aug 10, 8:06 AM ET
California Resources reported second-quarter 2026 net income of $514 million, compared with a net loss of $711 million in the first quarter, with the result including a non-cash gain from commodity derivatives. Adjusted net income was $88 million, or $0.99 per diluted share, down from $98 million in the second quarter of 2025, and the company cut its full-year 2026 drilling, completions and workover capital by $10 million while reaffirming its total capital outlook.
- Q2 2026 net income of $514 million versus a net loss of $711 million in Q1 2026 and net income of $172 million in Q2 2025; the company says the figure includes a non-cash derivative gain
- Adjusted net income of $88 million ($0.99 per diluted share) and adjusted EBITDAX of $338 million; free cash flow of $114 million
- 2026 drilling, completions and workover capital reduced by $10 million to $370 million-$390 million; full-year 2026 net production guidance of 150-155 MBoe/d
- Quarterly dividend of $0.405 per share declared August 10, 2026, payable September 18, 2026; pending $63 million cash acquisition of Crimson Midstream Holdings
Read the filing on SEC.gov ↗
Jul 14, 9:00 AM ET
California Resources Corporation said in a preliminary, unaudited update that its realized oil price for the three months ended June 30, 2026 was $76.50 per barrel after derivative settlements, versus $91.64 before them. The company estimates a $190 million loss from commodity derivatives for the quarter, and it warned that final results may differ and that the figures are not a quarterly earnings estimate.
- Realized oil price with derivative settlements was $76.50 per barrel, compared with $91.64 without them.
- Brent averaged $96.87 per barrel and WTI $92.79 per barrel for the quarter.
- Estimated derivative loss of $190 million, including $164 million on commodity sales derivatives and $26 million on natural gas purchase derivatives.
- The data is preliminary and unaudited and does not reflect all adjustments; the filing gives no earnings or revenue figures.
Read the filing on SEC.gov ↗
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.