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Complete financial analysis of California Resources Corporation (CRC) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of California Resources Corporation, a leading company in the Oil & Gas Exploration & Production industry within the Energy sector.
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California Resources Corporation (CRC)
About California Resources Corporation
California Resources Corporation operates as an independent oil and natural gas company. The company explores for, produces, gathers, processes, and markets crude oil, natural gas, and natural gas liquids for marketers, California refineries, and other purchasers that have access to transportation and storage facilities. As of December 31, 2021, it had interests in approximately 1.9 million net mineral acres with proved reserves totaled an estimated 480 million barrels of oil equivalent. The company also engages in the generation and sale of electricity to the local utility and the grid. The company was incorporated in 2014 and is based in Santa Clarita, California.
| Metric | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 2.81B | 3.26B | 2.57B | 1.61B | 2.69B | 3.06B | 2.10B | 1.75B | 2.40B | 4.17B | 4.29B | 4.07B | 3.94B |
| Cost of Revenue | 1.41B | 1.47B | 1.29B | 1.30B | 1.46B | 1.41B | 1.42B | 1.36B | 1.96B | 2.22B | 2.21B | 2.15B | 1.75B |
| Gross Profit | 1.41B | 1.79B | 1.28B | 308.00M | 1.23B | 1.65B | 676.00M | 394.00M | 448.00M | 1.95B | 2.08B | 1.93B | 2.19B |
| Gross Profit Ratio | 49.95% | 54.79% | 49.71% | 19.14% | 45.79% | 53.84% | 32.25% | 22.48% | 18.64% | 46.78% | 48.42% | 47.34% | 55.59% |
| Research & Development | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| General & Administrative | 267.00M | 222.00M | 200.00M | 252.00M | 290.00M | 299.00M | 259.00M | 248.00M | 354.00M | 336.00M | 326.00M | 273.00M | 287.00M |
| Selling & Marketing | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| SG&A | 267.00M | 222.00M | 200.00M | 252.00M | 290.00M | 299.00M | 259.00M | 248.00M | 354.00M | 336.00M | 326.00M | 273.00M | 287.00M |
| Other Expenses | 330.00M | 257.00M | 202.00M | 155.00M | 455.00M | -23.00M | -7.00M | 30.00M | 392.00M | 563.00M | 302.00M | 445.00M | 261.00M |
| Operating Expenses | 597.00M | 479.00M | 402.00M | 407.00M | 745.00M | 881.00M | 523.00M | 494.00M | 746.00M | 899.00M | 628.00M | 718.00M | 548.00M |
| Cost & Expenses | 2.01B | 1.95B | 1.69B | 1.71B | 2.21B | 2.30B | 1.94B | 1.85B | 2.70B | 3.12B | 2.84B | 2.86B | 2.30B |
| Interest Income | 0.00 | 53.00M | 54.00M | 217.00M | 383.00M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest Expense | 56.00M | 53.00M | 54.00M | 217.00M | 383.00M | 379.00M | 343.00M | 328.00M | 326.00M | 72.00M | 0.00 | 0.00 | 0.00 |
| Depreciation & Amortization | 225.00M | 241.00M | 263.00M | 362.00M | 514.00M | 545.00M | 571.00M | 562.00M | 1.00B | 1.20B | 1.14B | 926.00M | 675.00M |
| EBITDA | 1.08B | 1.31B | 871.00M | 2.45B | 997.00M | 1.35B | 652.00M | 1.08B | -4.14B | -1.05B | 2.73B | 2.14B | 2.39B |
| EBITDA Ratio | 38.22% | 40.15% | 33.96% | -11.68% | 15.45% | 24.32% | 32.92% | 27.90% | 231.29% | 135.47% | 60.47% | 53.15% | 58.81% |
| Operating Income | 808.00M | 1.11B | 658.00M | -1.89B | -55.00M | 769.00M | 63.00M | -306.00M | -122.00M | -2.35B | 1.45B | 1.18B | 1.64B |
| Operating Income Ratio | 28.72% | 34.07% | 25.65% | -117.15% | -2.04% | 25.11% | 3.01% | -17.46% | -5.08% | -56.29% | 33.77% | 29.00% | 41.67% |
| Total Other Income/Expenses | -60.00M | -51.00M | -64.00M | 2.02B | -329.00M | -107.00M | -403.00M | 494.00M | -5.35B | -3.40B | -140.00M | -41.00M | 0.00 |
| Income Before Tax | 748.00M | 761.00M | 229.00M | 1.87B | 100.00M | 429.00M | -262.00M | 201.00M | -5.48B | -2.42B | 1.45B | 1.18B | 1.64B |
| Income Before Tax Ratio | 26.59% | 23.36% | 8.93% | 116.28% | 3.71% | 14.01% | -12.50% | 11.47% | -227.88% | -58.02% | 33.77% | 29.00% | 41.67% |
| Income Tax Expense | 184.00M | 237.00M | -396.00M | -1.46B | 1.00M | 101.00M | 340.00M | -78.00M | -1.92B | -987.00M | 578.00M | 482.00M | 670.00M |
| Net Income | 564.00M | 524.00M | 612.00M | 3.34B | 99.00M | 328.00M | -266.00M | 279.00M | -3.55B | -1.43B | 869.00M | 699.00M | 971.00M |
| Net Income Ratio | 20.05% | 16.08% | 23.86% | 207.27% | 3.68% | 10.71% | -12.69% | 15.92% | -147.90% | -34.36% | 20.28% | 17.16% | 24.66% |
| EPS | 8.10 | 6.94 | 7.46 | 40.03 | 2.02 | 6.92 | -6.26 | 6.76 | -92.79 | -37.54 | 17.31 | 13.93 | 2.51 |
| EPS Diluted | 7.78 | 6.75 | 7.37 | 40.03 | 2.02 | 6.92 | -6.26 | 6.76 | -92.79 | -37.54 | 17.31 | 13.93 | 2.51 |
| Weighted Avg Shares Out | 69.60M | 75.50M | 82.00M | 83.32M | 49.00M | 47.40M | 42.49M | 40.40M | 38.30M | 38.20M | 49.40M | 49.40M | 387.00M |
| Weighted Avg Shares Out (Dil) | 72.50M | 77.60M | 83.00M | 83.32M | 49.00M | 47.40M | 42.50M | 40.40M | 38.30M | 38.20M | 49.40M | 49.40M | 387.00M |
California Resources Corporation: Making Moves And Delivering Value
California Resources Corporation is an oil and natural gas company facing regulatory challenges in California but still appealing due to rising share prices and potential earnings growth. CRC focuses on providing affordable and dependable energy while embracing cleaner and more...
California Resources Corporation Schedules Third Quarter 2023 Earnings Conference Call
LONG BEACH, Calif.--(BUSINESS WIRE)--California Resources Corporation (NYSE: CRC) plans to release its third quarter 2023 financial results on Wednesday, November 1st after market close. The Company will hold a conference call to discuss these financial results on Thursday, November 2nd...
This Analyst With 83% Accuracy Rate Sees Over 29% Upside In CrowdStrike Holdings - Here Are 5 Stock Picks For Last Week From - CrowdStrike Holdings (NASDAQ:CRWD), California Resources (NYSE:CRC)
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California Resources: Carbon Capture And Potential Separation From Oil Production
California Resources Corporation expects FCF growth in 2023 and is focused on carbon management and energy transition, which could attract investors interested in ESG practices. CRC has significant proven reserves and current production capacity, suggesting that the stock could be...
California Resources Corporation Releases 2022 Sustainability Update Detailing Progress on Sustainability Initiatives and ESG Performance
LONG BEACH, Calif.--(BUSINESS WIRE)--California Resources Corporation (NYSE: CRC) today announced the publication of its 2022 Sustainability Update. The Update details the progress CRC made last year as it continues to work toward meeting a high standard for environmental, social and...
Carbon TerraVault's California DAC Hub Consortium Selected for U.S. DOE Funding to Bring Direct Air Capture and Storage to the Golden State
LONG BEACH, Calif.--(BUSINESS WIRE)--Carbon TerraVault Holdings, LLC (CTV), a subsidiary of California Resources Corporation (NYSE: CRC), today announced that the California Direct Air Capture (DAC) Hub has been selected to receive $11.8 million in funding from the U.S. Department of...
California Resources Corporation (CRCQW) Q2 2023 Earnings Call Transcript
California Resources Corporation (OTCPK:CRCQW) Q2 2023 Earnings Conference Call August 1, 2023 1:00 PM ET Company Participants Joanna Park - Vice President, Investor Relations and Treasurer Francisco Leon - President and Chief Executive Officer Manuela Molina - Executive Vice President...
California Resources Corporation (CRC) Q2 Earnings and Revenues Lag Estimates
California Resources Corporation (CRC) came out with quarterly earnings of $0.53 per share, missing the Zacks Consensus Estimate of $0.86 per share. This compares to earnings of $1.13 per share a year ago.
California Resources Corporation Reports Strong Second Quarter 2023 Financial Results and Provides Updates on Carbon Management Business
LONG BEACH, Calif.--(BUSINESS WIRE)--California Resources Corporation (NYSE: CRC), an independent energy and carbon management company committed to energy transition, today reported second quarter 2023 operational and financial results. "CRC's focus on execution drove solid operational and financial performance in the...
Carbon TerraVault Provides Second Quarter 2023 Update
LONG BEACH, Calif.--(BUSINESS WIRE)--California Resources Corporation (NYSE: CRC) today announced a storage-only Carbon Dioxide Management Agreement (CDMA) between Carbon TerraVault JV HoldCo, LLC (CTV JV), a subsidiary of CRC that provides services including the capture, transport and storage of carbon...
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