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AI brief of an SEC Form 8-K · California Resources (CRC)

CRC reports $315 million Q3 net loss on $540 million non-cash derivative loss

Mixed Impact 4 of 5 earnings

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.

Key points

  • 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

The filing

CompanyCalifornia Resources (CRC)
Form8-K, current report
Filed with the SECNov 2, 2026, 4:45 PM ET
Accession number0001609253-26-000143

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 7, 2026, 11:17 PM ET, from the text of the filing and its press-release exhibits only.

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.