Filing Flows › California Resources (CRC) › Q2 2026
California Resources (CRC) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 10, 2026
California Resources (CRC) reported revenue of $1.3B for the second quarter 2026 (Q2 2026), +33% from a year earlier and +990% from the quarter before. Operating margin was 39.4%, net earnings $514M (39.6% of revenue).
California Resources, Q2 2026: revenue $1.3B (+33% year over year), operating margin 39.4%, net earnings $514M, operating cash flow $263M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.3B | +990% | +33% |
| Operating profit | $511M | — | +91% |
| Net earnings | $514M | — | +199% |
| Operating cash flow | $263M | +166% | +59% |
| Free cash flow | $114M | — | +5% |
What changed
Revenue was $1.3B in Q2 2026, up 33% year over year and up 990% from the previous quarter. Oil was the largest line at 77% of revenue. Oil added $0.35B year over year (up 55%), 110% of the total change. Natural gas declined 26%.
Operating profit was $0.51B, a 39.4% margin (up 12.1 points year over year). Of the extra revenue versus Q2 2025, 76% reached operating profit, above the 27% margin then. Total costs grew 11% against revenue growth of 33%. The fastest-growing cost line was SG&A (+23%). Net earnings were $0.51B, up 199% year over year. The effective tax rate was -12.2%.
Operating cash flow was $0.26B (up 59% year over year), 51% of net earnings. Non-cash charges added back $0.13B of depreciation and amortization. Working capital and other items used $0.38B. After capital investments ($0.15B), free cash flow as the company reports it was $0.11B.
Questions
What was California Resources' revenue in the second quarter 2026?
California Resources (CRC) reported revenue of $1.3B for the second quarter 2026 (Q2 2026), +33% from a year earlier and +990% from the quarter before.
Was California Resources profitable in the second quarter 2026?
Operating profit was $511M (39.4% of revenue) and net earnings $514M.