{
  "url": "https://struct.news/briefs/crcs-profit-surged-199-its-cash-conversion-fell-to-051x",
  "title": "CRC’s profit surged 199%. Its cash conversion fell to 0.51x",
  "summary": "Operating cash flow rose 59% to $263 million, but capex jumped 166% as the Berry merger reshaped the business.",
  "published_at": "2026-08-10T19:17:05.896102+00:00",
  "publisher": "Struct",
  "usage": "Figures are as reported by the company. Quote with attribution to the source filing.",
  "company": {
    "name": "California Resources Corporation",
    "ticker": "CRC",
    "cik": "1609253",
    "sector": "Energy",
    "industry": "Oil & Gas E&P"
  },
  "source_filing": {
    "form": "10-Q",
    "filed": "2026-08-10",
    "accession": "0001609253-26-000130",
    "url": "https://www.sec.gov/Archives/edgar/data/1609253/000160925326000130/crc-20260630.htm"
  },
  "comparison_filing": {
    "form": "10-Q",
    "filed": "2025-08-06",
    "url": "https://www.sec.gov/Archives/edgar/data/1609253/000160925325000069/crc-20250630.htm"
  },
  "reported_figures": [
    {
      "group": "The filing in three numbers",
      "label": "Revenue",
      "value": 2910000000,
      "display": "$2.9B",
      "unit": "usd",
      "period": "2025-12-31",
      "detail": null,
      "source": {
        "kind": "sec_filing",
        "label": "Filed company results",
        "form": "10-Q",
        "accession": "0001609253-26-000130",
        "filing_date": "2026-08-10"
      }
    },
    {
      "group": "The filing in three numbers",
      "label": "Revenue YoY",
      "value": 14.702404414662995,
      "display": "+14.7%",
      "unit": "percent",
      "period": "2025-12-31",
      "detail": null,
      "source": {
        "kind": "jodie_calculation",
        "label": "Calculated from filed company results",
        "form": "10-Q",
        "accession": "0001609253-26-000130",
        "filing_date": "2026-08-10"
      }
    },
    {
      "group": "The filing in three numbers",
      "label": "Operating margin",
      "value": 20.549828178694156,
      "display": "+20.5%",
      "unit": "percent",
      "period": "2025-12-31",
      "detail": null,
      "source": {
        "kind": "jodie_calculation",
        "label": "Calculated from filed company results",
        "form": "10-Q",
        "accession": "0001609253-26-000130",
        "filing_date": "2026-08-10"
      }
    }
  ],
  "watch_next": [
    {
      "type": "working_capital",
      "statement": "Operating cash flow increased primarily through working-capital changes, while cash conversion fell to 0.51x as earnings grew faster than cash generation.",
      "importance": "medium",
      "evidence": "This increase in operating cash flow was primarily driven by changes in working capital.",
      "source_date": "2026-08-10"
    },
    {
      "type": "m_and_a",
      "statement": "The Berry merger added compensation-related and other corporate expenses to the operating cost base.",
      "importance": "medium",
      "evidence": "The increase was primarily due to additional compensation-related expense and other corporate expenses resulting from the Berry Merger.",
      "source_date": "2026-08-10"
    },
    {
      "type": "commodity_prices",
      "statement": "Natural gas prices increased in the six-month comparison period, with the company attributing the move to stronger winter demand.",
      "importance": "medium",
      "evidence": "Natural gas prices increased for the six months ended June 30, 2026 compared to the six months ended June 30, 2025 driven by stronger winter demand.",
      "source_date": "2026-08-10"
    },
    {
      "type": "regulation",
      "statement": "CRC has completed its first carbon-capture project but still links first injection to commissioning and final regulatory approval.",
      "importance": "medium",
      "evidence": "We recently completed construction of our first carbon capture project at our cryogenic gas processing facility and expect first injection in spring 2026, subject to commissioning and final regulatory approval.",
      "source_date": "2026-08-10"
    }
  ],
  "related_tickers": [
    "CRC"
  ],
  "disclaimer": "Descriptive reporting of filed results. Not investment advice, and contains no forecast or recommendation."
}