NYSE$CRC

California Resources Corporation · Q2 2023 earnings

Q2 2023 earnings · · Investor relations

Headline financials

Total Revenue

$591M

Previous: $747M-20.9%
EPS (adj)

$0.53

Previous: $1.13-53.1%
Oil production

53

Previous: 54-1.9%
NGL production

11

Previous: 12-8.3%
Natural gas production

135

Previous: 151-10.6%
Total production

86

Previous: 91-5.5%
Capital Expenditures

-$39M

Previous: -$98M+60.2%
Free Cash Flow

$58M

Previous: $92M-37.0%
Net Income

$97M

Previous: $190M-48.9%
Operating Income

$147M

Previous: $278M-47.1%
Gross Profit

$591M

Previous: $747M-20.9%
Cash & Equivalents

$448M

Previous: $324M+38.3%
Total Assets

$3.9B

Previous: $4.02B-2.9%

Revenue & EPS history

CRC · Revenue · Quarterly

$591M

Q2 2023-20.9%vs Q2 2022
Beat estimate in 10 of 16 quarters(63%)
ActualEstimate

Revenue by segment

CRC · $499M total across 4 segments · Q2 2023

  • Oil sales
    $362M-33.8%
  • Marketing revenue
    $72M-4.0%
  • Electricity revenue
    $34M-30.6%
  • Derivative gains
    $31M+131.0%

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q2 2023

Historical avgQ2 2023

+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

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q2 2025———
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———

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