California Resources reports Q3 adjusted EPS $1.50, consensus $1.34

Reports Q3 revenue $1.353B, consensus $968.78M. “Our performance this year has been strong and we have positioned CRC for long term value creation into the future,” said Francisco Leon, CRC’s President and Chief Executive Officer. “Today, CRC is bigger, stronger, and more sustainable. We continue to demonstrate that we are a different kind of energy company. I am really proud of our teams and the Aera integration. We are capturing meaningful synergies, enhancing operating efficiencies and advancing new growth opportunities. The Kern County Board of Supervisors’ approval of the conditional use permits for our CTV I project and a recent MOU with a leading power partner are a testament to our team’s relentless pursuit of growing our carbon business. As we look to 2025, our hedge positions underpin near-term cash flows and will allow for continued debt reduction and cash returns to shareholders.”