Filing Flows › California Resources (CRC) › Q4 2025
California Resources (CRC) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 2, 2026
California Resources (CRC) reported revenue of $924M for the fourth quarter 2025 (Q4 2025), +5% from a year earlier and +8% from the quarter before. Operating margin was 5.1%, net earnings $12.0M (1.3% of revenue).
California Resources, Q4 2025: revenue $924M (+5% year over year), operating margin 5.1%, net earnings $12.0M, operating cash flow $235M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $924M | +8% | +5% |
| Operating profit | $47.0M | -52% | -31% |
| Net earnings | $12.0M | -81% | -64% |
| Operating cash flow | $235M | -16% | +14% |
| Free cash flow | $115M | -39% | -3% |
What changed
Revenue was $924.0M in Q4 2025, up 5% year over year and up 8% from the previous quarter.
Operating profit was $47.0M, a 5.1% margin (down 2.7 points year over year). Operating profit fell $21.0M even though revenue rose $47.0M versus a year earlier, so costs grew faster than sales. Total costs grew 8% against revenue growth of 5%. Net earnings were $12.0M, down 64% year over year. The effective tax rate was 47.8%.
Operating cash flow was $235.0M (up 14% year over year), 1958% of net earnings. Non-cash charges added back $129.0M of depreciation and amortization. Working capital and other items added $94.0M. Capital expenditures of $120.0M left free cash flow of $115.0M.
Questions
What was California Resources' revenue in the fourth quarter 2025?
California Resources (CRC) reported revenue of $924M for the fourth quarter 2025 (Q4 2025), +5% from a year earlier and +8% from the quarter before.
Was California Resources profitable in the fourth quarter 2025?
Operating profit was $47.0M (5.1% of revenue) and net earnings $12.0M.