Flash FinanceUS
Market closed · weekend S&P 5007,376.86+0.31% Nasdaq24,579.42+1.09% Dow 3051,285.73-0.46% Russell 20002,754.11+0.89% Nasdaq-10026,989.99+1.35% MidCap 4003,602.50+0.56% SmallCap 6001,673.98+0.05% VIX25.64-9.01% 10Y Yield4.86+0.45% Close of Nov 06, 2026
AI brief of an SEC Form 8-K · California Resources (CRC)

California Resources posts $514 million Q2 net income and trims 2026 drilling capital

Positive Impact 3 of 5 earnings Written later

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.

Key points

  • 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

The filing

CompanyCalifornia Resources (CRC)
Form8-K, current report
Filed with the SECAug 10, 2026, 8:06 AM ET
Accession number0001609253-26-000127

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:01 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 10, 2026.

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.