7/106 sources · 5 publishersUpdated Nov 3, 00:39 UTC
California Resources posts Q3 loss, raises quarterly dividend to $0.42
California Resources Corp. reported a third‑quarter 2026 net loss of $315 million, which includes a $540 million non‑cash loss from commodity‑derivative fair‑value adjustments. Adjusted earnings came in at $1.17 per share, beating the $0.97 consensus. The board increased the quarterly dividend 4% to $0.42 per share and announced a $90 million cash divestiture of its Uinta Basin assets.
Why it matters
The loss and revenue miss signal weaker cash flow from core operations, while the higher dividend provides immediate cash to shareholders. The Uinta Basin sale will add roughly $90 million of cash later in the year, improving liquidity.
Key facts
- 1Q3 2026 net loss was $315 million, including a $540 million non‑cash loss on commodity contracts. stocktitan.net
- 2Adjusted earnings per share were $1.17, beating analysts' consensus of $0.97. finance.yahoo.com
- 3Quarterly dividend was raised 4% to $0.42 per share. stocktitan.net
- 4Revenue for the quarter was $421 million, down 52.2% year‑on‑year. finance.yahoo.com
- 5Average net production was 152 thousand barrels of oil equivalent per day. stocktitan.net
- 6The company signed an agreement to divest Uinta Basin assets for approximately $90 million in cash. stocktitan.net
Summary written by AlphAI AI Desk from 6 of 6 sources. Not investment advice. Figures are as stated by the linked sources.