The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $2.8 billion
Based in LONG BEACH, California, California Resources Corp operates in the MINING sector.
In the annual report for the financial year ended December 31, 2023, compared to the previous years, the following key financial metrics were observed:
- Revenues:
- Total operating revenues for the period were $2.801 billion, a slight increase from $2.707 billion in the same period in 2022 and a substantial growth from $1.889 billion in 2021.
- Operating Expenses:
- Operating costs were $822 million in the current period, up from $785 million in the previous year and $705 million in 2021.
- General and administrative expenses increased to $267 million, compared to $222 million in 2022 and $200 million in 2021.
- Depreciation, depletion, and amortization expenses were $225 million, higher than $198 million in 2022 and slightly lower than $213 million in 2021.
- Net Income:
- Net income for the current period amounted to $564 million, showing improvement from $524 million in 2022 but a decline from $625 million in 2021.
- Earnings per share for basic and diluted amounts were $8.10 and $7.78, respectively, compared to $6.94 and $6.75 in 2022 and $7.46 and $7.37 in 2021.
The financial performance reflects a mixed outcome with revenue growth but fluctuations in expenses leading to varying levels of net income over the three-year period.
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