California Resources Posts Earnings, Misses Expectations

Oil and gas producer reports Q1 results, stock price fluctuates

Published on Mar. 4, 2026

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California Resources (NYSE:CRC), an independent oil and gas exploration and production company focused on California assets, reported its first quarter earnings on Monday. The company posted earnings per share of $0.47, missing the consensus estimate of $0.49 by $0.02. Revenue for the quarter was $924 million, up 5.4% year-over-year.

Why it matters

As a major player in California's energy industry, California Resources' financial performance is closely watched by investors and analysts. The company's earnings miss, despite higher revenue, could impact its stock price and signal challenges in the regional oil and gas market.

The details

California Resources reported a net margin of 9.89% and a return on equity of 10.39% for the quarter. The company cited higher production costs and operational expenses as factors contributing to the earnings miss. California Resources operates primarily in the Los Angeles, Ventura, and San Joaquin basins in California.

  • California Resources reported its Q1 2026 earnings on Monday, March 4, 2026.

The players

California Resources Corporation

An independent exploration and production company focused exclusively on developing oil and natural gas assets in California.

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The takeaway

California Resources' earnings miss highlights the ongoing challenges facing the oil and gas industry in California, where producers must navigate complex regulatory environments and operational costs. The company's performance will be closely watched by investors as an indicator of the regional energy market's health.