Overview

* California Resources ( CRC ) Q3 adjusted EPS and net income beat analyst expectations

* Company increased quarterly dividend by 5%, reinforcing commitment to shareholder returns

* Announced merger with Berry Corporation, expected to close in Q1 2026

Outlook

* Co expects Q4 2025 net production of 131-135 MBoe/d

* Capital investments for Q4 2025 projected at $105-125 mln

* CRC plans to average four drilling rigs in 2026

Result Drivers

* OIL PRODUCTION - Delivered 137 MBoe/d, with 78% oil, supporting revenue growth

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $1.46 $1.25

Adjusted (11

EPS Analysts

)

Q3 EPS $0.76

Q3 Beat $123 mln $106.48

Adjusted mln (9

Net Analysts

Income )

Q3 Net $64 mln

Income

Q3 Beat $338 mln $332.49

Adjusted mln (12

EBITDAX Analysts

)

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the oil & gas exploration and production peer group is "buy"

* Wall Street's median 12-month price target for California Resources Corp ( CRC ) is $68.00, about 30.6% above its November 3 closing price of $47.16

* The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 15 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)