California Resources Corp (CRC) Form 8-K — Nov 2, 2026
California Resources reported a Q3 2026 GAAP net loss of $315 million ($3.55 per diluted share), but the loss was driven by a $540 million non-cash mark-to-market loss on commodity derivatives. Adjusted net income was $104 million ($1.17 per share) with adjusted EBITDAX of $341 million, exceeding quarterly guidance, and free cash flow of $147 million on 152 MBoe/d of net production (80% oil). CRC raised its quarterly dividend 4% to $0.42 per share ($1.68 annualized), repurchased $30 million of stock in Q3, and has $570 million remaining on its buyback authorization.
Key figures
- Revenue
- 421000000
- Liquidity musd
- 1315
- Available cash musd
- 35
- Free cash flow musd
- 147
- Adjusted eps diluted
- 1.17
- Adjusted ebitdax musd
- 341
- Dividend increase pct
- 4
- Net production mboe d
- 152
- Borrowing capacity musd
- 1280
- Long term debt net musd
- 1281
- Outlook 2027 capex musd
- $450 - $475
- Q3 avg repurchase price
- 53.48
- Adjusted net income musd
- 104
- Capital investments musd
- 158
- Guidance 4q26 capex musd
- $110 - $130
- Operating cash flow musd
- 305
- Uinta sale proceeds musd
- 90
- Annual dividend per share
- 1.68
- Guidance 4q26 ebitdax musd
- $340 - $380
- Shareholder returns q3 musd
- 66
- Dividend per share quarterly
- 0.42
- Oil percentage of production
- 80%
- Non cash derivative loss musd
- 540
- Guidance 4q26 production mboe d
- 150 - 152
- Remaining buyback authorization musd
- 570
- Total operating revenues before derivatives musd
- 1096
AI analysis
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