California Resources (CRC) Reports Q1 EPS of $1.22, Announces $150 Million Share Repurchase Program

California Resources (NYSE: CRC) reported Q1 EPS of $1.22, versus ($0.16) reported last year. Revenue for the quarter came in at $363 million, versus $573 million reported last year.

Initiating a Share Repurchase Program

In May 2021, CRC's Board of Directors authorized a Share Repurchase Program (SRP) to acquire up to $150 million of CRC's common stock through March 31, 2022. The repurchases may be affected from time-to-time through open market purchases, privately negotiated transactions, Rule 10b5-1 plans, accelerated stock repurchases, derivative contracts or otherwise in compliance with Rule 10b-18, subject to market conditions. The SRP does not obligate CRC to repurchase any dollar amount or number of shares and CRC's Board of Directors may modify, suspend, or discontinue authorization of the program at any time. The Share Repurchase Program expires on March 31, 2022.

For earnings history and earnings-related data on California Resources (CRC) click here.

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