Filing Flows › California Resources (CRC) › Q1 2026
California Resources (CRC) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 6, 2026
California Resources (CRC) reported revenue of $119M for the first quarter 2026 (Q1 2026), -87% from a year earlier and -87% from the quarter before. Operating margin was -597.5%, net loss $711M (597.5% of revenue).
California Resources, Q1 2026: revenue $119M (-87% year over year), operating margin -597.5%, net loss $711M, operating cash flow $99.0M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $119M | -87% | -87% |
| Operating profit | −$711M | -1613% | -482% |
| Net earnings | −$711M | -6025% | -718% |
| Operating cash flow | $99.0M | -58% | -47% |
What changed
Revenue was $119.0M in Q1 2026, down 87% year over year and down 87% from the previous quarter. Oil was the largest line, $834.0M against total revenue of $119.0M (other lines net negative). Natural gas liquids lost $8.0M year over year (down 16%), 1% of the total change.
Operating costs exceeded revenue by $711.0M, an operating margin of -597.5%. Total costs grew 14% against a revenue fall of 87%. The fastest-growing cost line was SG&A (+47%). The quarter ended with a net loss of $711.0M, after a profit of $12.0M the previous quarter.
Operating cash flow was $99.0M (down 47% year over year). Non-cash charges added back $133.0M of depreciation and amortization. Working capital and other items added $677.0M. Capital expenditures of $131.0M exceeded it, leaving free cash flow of −$32.0M.
Questions
What was California Resources' revenue in the first quarter 2026?
California Resources (CRC) reported revenue of $119M for the first quarter 2026 (Q1 2026), -87% from a year earlier and -87% from the quarter before.
Was California Resources profitable in the first quarter 2026?
Operating loss was $711M (-597.5% of revenue) and net loss $711M.