NYSE$CRC
California Resources Corporation · Q1 2026 earnings
Q1 2026 earnings · · Investor relations
Briefing
California Resources reported Q1 2026 oil and gas sales of $905M but a net loss of $711M, or $8.02 diluted EPS, after commodity-derivative losses.
CRC reported oil, natural gas, and NGL sales of $905 million for Q1 2026. Net losses on commodity sales derivatives of $848 million and total operating revenues of $119 million after hedge accounting drove a net loss of $711 million, or $8.02 per diluted share, compared with net income of $115 million in Q1 2025.
- Oil and gas sales of $905M; net derivative losses of $848M on commodity sales.
- Net loss of $711M; diluted EPS $(8.02) versus $1.26 a year ago.
- Operating costs and G&A rose with activity; interest expense was $29M.
- Income tax benefit of $49M partially offset pre-tax loss.
Headline financials
Revenue & EPS history
CRC · Revenue · Quarterly
$119M
Revenue by segment
CRC · $342M total across 4 segments · Q3 2023
- Oil and liquids & gas sales$402M-18.6%117.5%
- Marketing of purchased natural gas$77M-31.9%22.5%
- Electricity sales$67M-23.9%19.6%
- Net gain from commodity derivatives-$204M-184.0%-59.6%
Forward guidance
The 10-Q does not provide numeric consolidated annual EPS guidance for CRC. Management commentary covers costs, capital allocation, and sector-specific risks in MD&A.
Tailwinds
- Management discusses operational priorities and liquidity in the quarterly filing.
- Segment or product trends are disclosed where applicable to the business model.
Headwinds
- Macro, input-cost, and interest-rate exposure can affect near-term results.
- One-time items, impairments, or fair-value marks may distort quarterly comparability.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2026
+0.2%
Avg return
Earnings day
+2.2%
Avg return
5 days after
+10.7%
Avg return
30 days after
36%
8 / 22 earnings
Positive
+13.0%
Q2 2021
Best reaction
-12.4%
Q1 2026
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -12.4% | -15.0% | -17.2% | |
| Q4 2025 | +4.8% | +10.0% | +12.2% | |
| Q3 2025 | -0.7% | +1.0% | +2.1% | |
| Q1 2025 | +8.3% | +18.7% | +25.7% | |
| Q4 2024 | -11.0% | -7.0% | +2.3% | |
| Q3 2024 | +7.5% | +7.7% | +4.7% | |
| Q2 2024 | +3.2% | +6.3% | +5.3% | |
| Q1 2024 | -4.9% | -7.4% | -10.5% | |
| Q4 2023 | -2.4% | -0.1% | +2.0% | |
| Q3 2023 | -0.2% | -3.5% | -1.7% | |
| Q2 2023 | -2.6% | +1.9% | +6.9% | |
| Q1 2023 | -0.7% | -3.1% | -7.3% | |
| Q4 2022 | +10.3% | +9.0% | -4.4% | |
| Q3 2022 | +10.4% | +8.6% | +0.9% | |
| Q2 2022 | -4.6% | +0.5% | +4.9% | |
| Q1 2022 | -2.7% | -10.5% | +2.8% | |
| Q4 2021 | -0.4% | +5.6% | +22.7% | |
| Q3 2021 | -1.9% | -0.5% | +1.0% | |
| Q2 2021 | +13.0% | +11.4% | +37.3% | |
| Q1 2021 | -1.4% | +17.3% | +36.0% | |
| Q4 2020 | +2.8% | -3.7% | -2.9% | |
| Q3 2020 | -9.8% | +2.3% | +111.6% | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — | |
| Q4 2019 | — | — | — | |
| Q3 2019 | — | — | — | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — | |
| Q4 2018 | — | — | — | |
| Q3 2018 | — | — | — | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — | |
| Q4 2017 | — | — | — | |
| Q3 2017 | — | — | — | |
| Q2 2017 | — | — | — | |
| Q1 2017 | — | — | — | |
| Q4 2016 | — | — | — | |
| Q3 2016 | — | — | — | |
| Q2 2016 | — | — | — | |
| Q1 2016 | — | — | — | |
| Q4 2015 | — | — | — | |
| Q3 2015 | — | — | — | |
| Q1 2014 | — | — | — | |
| Q2 2015 | — | — | — | |
| Q4 2014 | — | — | — | |
| Q1 2015 | — | — | — | |
| Q2 2014 | — | — | — | |
| Q4 2012 | — | — | — | |
| Q3 2014 | — | — | — | |
| Q4 2013 | — | — | — | |
| Q3 2013 | — | — | — | |
| Q2 2013 | — | — | — | |
| Q1 2013 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro