California Resources Posts $711M Q1 Net Loss, Misses EBITDAX Estimates
Summary
California Resources reported a significant Q1 net loss of $711 million, or -$8.02 per share, which is a substantial negative for the company. While adjusted EPS of $0.88 slightly beat the IBES estimate of $0.85, and adjusted net income also surpassed expectations, the company missed adjusted EBITDAX estimates, reporting $304 million against an expected $342.7 million. This Q1 2026 report provides the first look at the company's performance following its strong full-year 2025 results detailed in the March 2026 10-K. The large GAAP net loss and EBITDAX miss are material concerns that overshadow the modest adjusted EPS beat, potentially raising questions about the company's underlying financial health and operational efficiency. Traders will be closely monitoring management's commentary on the drivers of this significant loss and its implications for future profitability and cash flow.
At the time of this announcement, CRC was trading at $70.88 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $6.2B. The 52-week trading range was $34.87 to $71.98. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Reuters.