Filing Flows › California Resources (CRC) › Q2 2026 › vs Q2 2025
California Resources (CRC) Q2 2026 vs Q2 2025 (year over year)
California Resources's revenue rose $319M (+33%) from $978M in Q2 2025 to $1.3B in Q2 2026. The biggest changes: Oil +$351M (+55%); Other revenues −$35.0M (-13%); Natural gas liquids +$8.0M (+21%). Operating margin 39.4% against 27.3% (+12.1 pts).
California Resources, Q2 2026: revenue $1.3B (+33% year over year), operating margin 39.4%, net earnings $514M, operating cash flow $263M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 39.4% | 27.3% | +12.1 pts |
| Net margin | 39.6% | 17.6% | +22.0 pts |
| Free cash flow margin | 8.8% | 11.1% | -2.4 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Oil | $995M | $644M | $351M | +55% |
| Natural gas liquids | $47.0M | $39.0M | $8.0M | +21% |
| Natural gas | $14.0M | $19.0M | −$5.0M | -26% |
| Other revenues | $241M | $276M | −$35.0M | -13% |
| Revenue | $1.3B | $978M | $319M | +33% |
| Operating profit | $511M | $267M | $244M | +91% |
| Costs & expenses | $786M | $711M | $75.0M | +11% |
| Pre-tax earnings | $458M | $242M | $216M | +89% |
| Other expense, net | $53.0M | $25.0M | $28.0M | +112% |
| SG&A | $97.0M | $79.0M | $18.0M | +23% |
| Other operating costs | $689M | $632M | $57.0M | +9% |
| Income tax benefit | $56.0M | −$70.0M | $126M | — |
| Net earnings | $514M | $172M | $342M | +199% |
| Depreciation & amortization | $131M | $128M | $3.0M | +2% |
| Working capital & other | $382M | $135M | $247M | +183% |
| Operating cash flow | $263M | $165M | $98.0M | +59% |
| Free cash flow (company-reported) | $114M | $109M | $5.0M | +5% |
| Capital investments | $149M | $56.0M | $93.0M | +166% |
Questions
How much did California Resources's revenue grow year over year in Q2 2026?
California Resources's revenue rose $319M (+33%) from $978M in Q2 2025 to $1.3B in Q2 2026.
What drove California Resources's revenue change in Q2 2026?
Oil +$351M (+55%); Other revenues −$35.0M (-13%); Natural gas liquids +$8.0M (+21%).