Filing Flows › California Resources (CRC) › Q1 2025
California Resources (CRC) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 7, 2025
California Resources (CRC) reported revenue of $912M for the first quarter 2025 (Q1 2025), +101% from a year earlier and +4% from the quarter before. Operating margin was 20.4%, net earnings $115M (12.6% of revenue).
California Resources, Q1 2025: revenue $912M (+101% year over year), operating margin 20.4%, net earnings $115M, operating cash flow $186M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $912M | +4% | +101% |
| Operating profit | $186M | +174% | — |
| Net earnings | $115M | +248% | — |
| Operating cash flow | $186M | -10% | +114% |
| Free cash flow | $131M | — | +297% |
What changed
Revenue was $912.0M in Q1 2025, up 101% year over year and up 4% from the previous quarter. Oil was the largest line at 81% of revenue. Oil added $388.0M year over year (up 111%), 85% of the total change. Natural gas declined 12%.
Operating profit was $186.0M, a 20.4% margin (up 21.3 points year over year). Total costs grew 59% against revenue growth of 101%. The fastest-growing cost line was Other operating costs (+63%). Net earnings were $115.0M. The effective tax rate was 29.0%.
Operating cash flow was $186.0M (up 114% year over year), 162% of net earnings. Non-cash charges added back $131.0M of depreciation and amortization. Working capital and other items used $60.0M. After capital investments ($55.0M), free cash flow as the company reports it was $131.0M.
Questions
What was California Resources' revenue in the first quarter 2025?
California Resources (CRC) reported revenue of $912M for the first quarter 2025 (Q1 2025), +101% from a year earlier and +4% from the quarter before.
Was California Resources profitable in the first quarter 2025?
Operating profit was $186M (20.4% of revenue) and net earnings $115M.