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Jun 30, 2025
CRC Q2 2025 Earnings Report
California Resources Corporation reported second quarter 2025 results with strong production, robust revenue and significant shareholder returns.
Key Takeaways
For Q2 2025, CRC delivered total operating revenues of 978000000, average net production of 137000 barrels of oil equivalent per day, net income of 172000000 and diluted EPS of 1.92. The company generated 109000000 in free cash flow and maintained 72000000 in cash and cash equivalents at quarter end. :contentReference[oaicite:0]{index=0}
Total operating revenues were 978000000 for Q2 2025. :contentReference[oaicite:1]{index=1}
Average net production was 137000 BOE/d, with 109000 Bbl/d of oil. :contentReference[oaicite:2]{index=2}
Net income was 172000000 with diluted EPS of 1.92. :contentReference[oaicite:3]{index=3}
Free cash flow reached 109000000. :contentReference[oaicite:4]{index=4}
Revenue by Segment
Forward Guidance
CRC provided guidance for Q3 2025 and full year 2025E production and adjusted EBITDAX, targeting net production of 135–139 MBoe/d and adjusted EBITDAX of $310M–$340M for Q3 2025, with full year 2025E net production of 134–138 MBoe/d and adjusted EBITDAX of $1,195M–$1,275M. :contentReference[oaicite:5]{index=5}
Positive Outlook
- Raised guidance for Q3 2025 net production to 135–139 MBoe/d. :contentReference[oaicite:6]{index=6}
- Full year 2025E net production guidance increased to 134–138 MBoe/d. :contentReference[oaicite:7]{index=7}
- Adjusted EBITDAX guidance for Q3 2025 is $310M–$340M. :contentReference[oaicite:8]{index=8}
- Full year 2025E adjusted EBITDAX guidance is $1,195M–$1,275M. :contentReference[oaicite:9]{index=9}
- Quarter delivered strong free cash flow of $109M. :contentReference[oaicite:10]{index=10}
Challenges Ahead
- Available cash decreased to $56M by quarter end. :contentReference[oaicite:11]{index=11}
- Realized oil and gas prices softened versus prior quarter. :contentReference[oaicite:12]{index=12}
Historical Earnings Impact
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Avg. Return Before/After Earnings
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