California Resources swings to 2Q FY26 profit of $514 million; revenue rises to $1.3 billion

Reuters2026/08/10 12:10

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California Resources posts GAAP net income of USD 514 million, swinging from a GAAP net loss of USD 711 million in 1Q26.
GAAP operating income turns to USD 511 million from a GAAP operating loss of USD 711 million in 1Q26.
Adjusted EBITDAX (non-GAAP) rises 11.18% to USD 338 million; adjusted net income (non-GAAP) increases 11.39% to USD 88 million.
Net cash from operations climbs to USD 263 million from USD 99 million; free cash flow turns to USD 114 million from negative USD 32 million.
Agreed to buy Crimson Midstream for USD 63 million; cut long-term maintenance capital outlook to USD 450 million-USD 475 million, citing efficiency gains.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. California Resources Corporation published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202608100802PRIMZONEFULLFEED9806360) on August 10, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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California Resources swings to 2Q FY26 profit of $514 million; revenue rises to $1.3 billion

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