California Resources (CRC) Q2 EPS Up 83%

California Resources (NYSE:CRC), an independent oil and natural gas producer operating primarily in California, delivered its earnings on August 5, 2025. The company reported earnings per share (non-GAAP) of $1.10, which exceeded analyst expectations of $0.89 (non-GAAP). Revenue (GAAP) climbed to $978 million, well ahead of estimates at $788 million (GAAP revenue). The quarter saw CRC implementing cost synergies from its recent Aera merger faster than anticipated, with more than 70% of the targeted $235 million in annualized synergies realized as of Q1 2025, recording robust capital returns to shareholders, and progressing further on its carbon management initiatives. Overall, CRC’s results topped Wall Street projections, with non-GAAP EPS of $1.10 and GAAP revenue of $978 million both exceeding analyst estimates, reflecting both operational efficiency and progress against its strategic priorities. Source: Analyst estimates provided by FactSet. Management expectations based on management's guidance, as provided in Q1 2025 earnings report. California Resources is the largest oil and natural gas producer in California. Its operations span key basins such as the San Joaquin and Los Angeles areas, with a majority of production coming from oil. The company’s business also includes an integrated electricity generation arm and an emerging Carbon TerraVault segment, which targets carbon capture and storage (CCS) as California pursues statewide decarbonization objectives.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool