California Resources Corporation has released its financial and operating results for the first quarter of 2025. The company reported total operating revenues of $912 million, an increase from $877 million in the fourth quarter of 2024. Net income for the quarter was $115 million, which is a significant rise compared to the previous quarter. The diluted net income per share stood at $1.26, indicating strong earnings performance. Adjusted net income was reported at $98 million, while the adjusted EBITDAX reached $328 million, marking an improvement from $316 million in the previous quarter. The company also highlighted its return of $258 million to stakeholders and maintained a strong balance sheet. Additionally, California Resources Corporation reaffirmed its 2025 production, capital investment, and adjusted EBITDAX guidance. The company maintained a flat quarter-over-quarter total net production, demonstrating stability in its operational output.
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