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California Resources Q1 Adjusted Net Income, Revenue Fall

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California Resources (CRC) reported Q1 adjusted net income Tuesday of $0.88 per diluted share, down from $1.07 a year earlier.

Analysts polled by FactSet expected $0.88 per share.

Total operating revenue for the quarter ended March 31 was $119 million, compared with $912 million a year earlier.

Analysts surveyed by FactSet expected $947.5 million.

The company said it expects Q2 net production of 148,000 barrels of oil equivalent per day, or 148 MBoe/d, to 150 MBoe/d.

Analysts expect 152.9 MBoe/d.

For the full-year 2026, the company expects net production of 149 MBoe/d to 155 MBoe/d.

Analysts expect 153.6 MBoe/d.

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