California Resources Corporation — Third Quarter 2026 Earnings Summary

California Resources Corporation reported a net loss of $315 million for the third quarter of 2026, driven by a $540 million non-cash loss from commodity derivatives, while achieving an adjusted net income of $104 million. The company delivered average net production of 152 thousand barrels of oil equivalent per day, representing a 2% quarter-over-quarter growth, and generated $147 million in free cash flow. Strategic initiatives included the closing of the Crimson Midstream acquisition, the announcement of a Uinta Basin asset divestiture, and a memorandum of understanding with Bloom Energy for decarbonized power projects. Additionally, the Board of Directors increased the quarterly dividend by 4% to $0.42 per share and returned a total of $66 million to shareholders through dividends and share repurchases.