California Resources (CRC) Tops Q2 EPS by 94c

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Go back to California Resources (CRC) Tops Q2 EPS by 94c

California Resources Corporation Reports Second Quarter 2021 Results, Increases Free Cash Flow Guidance, Raises Share Repurchase Program to $250 Million and Announces Strategic A&D Transactions

August 5, 2021 4:15 PM EDT

SANTA CLARITA, Calif.--(BUSINESS WIRE)-- California Resources Corporation (NYSE: CRC), an independent oil and natural gas company committed to energy transition in the sector, today reported second quarter 2021 operational and financial results.

CRC continued to deliver on its strategy with strong second quarter results driven by robust financial and operational performance, resulting in an increase in 2021 free cash flow1 guidance to $400 to $500 million. Given our financial strength and low stock valuation relative to fundamentals, we are increasing our Share Repurchase Program from $150 million to $250 million," said Mac McFarland, President and... More