California Resources (CRC) FY2016 results: revenue $1.5 billion, down 35.6% on the year
California Resources Corp. (CRC) reported revenue of $1.5 billion for fiscal 2016, the year ended 31 December 2016, down 35.6% on the year before. Net income was $279 million, and diluted earnings per share $6.76. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2017.
Revenue
$1.5 billion
-35.6% on the year
FY2012FY2016
Operating margin
-18.9%
-214.0% a year earlier
FY2012FY2016
Net income
$279 million
FY2012FY2016
Diluted EPS
$6.76
FY2012FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
1,547
2,403
4,173
-35.6%
Selling, general and administrative
235
354
302
-33.6%
Operating income
-293
-5,142
-2,349
Operating margin
-18.9%
-214.0%
-56.3%
Pre-tax income
201
-5,476
-2,421
Income tax
-78.0
-1,922
-987
Effective tax rate
-38.8%
n/a
n/a
Net income
279
-3,554
-1,434
Net margin
18.0%
-147.9%
-34.4%
Diluted EPS
$6.76
-$92.70
-$37.50
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
130
403
2,371
-67.7%
Capital expenditure
75.0
401
2,089
-81.3%
Free cash flow
55.0
2.0
282
+2,650.0%
Free cash flow margin
3.6%
0.1%
6.8%
Cash from investing
-61.0
-757
-2,312
Cash from financing
-69.0
352
-45.0
Depreciation and amortisation
559
1,004
1,198
-44.3%
Share-based compensation
30.0
37.0
27.0
-18.9%
Dividends paid
0.0
12.0
n/a
Dividend per share
n/a
$0.30
n/a
Diluted shares, weighted
40m
38m
38m
+5.4%
Shares outstanding at period end
43m
39m
39m
+9.6%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
-557
-916
2,611
Debt
5,268
6,143
6,360
-14.2%
Other liabilities
1,643
1,826
3,458
-10.0%
Total liabilities and equity
6,354
7,053
12,429
-9.9%
Fixed assets
5,885
6,312
11,685
-6.8%
Cash and equivalents
12.0
12.0
14.0
0.0%
Receivables
232
200
308
+16.0%
Inventory
58.0
58.0
71.0
0.0%
Other assets
167
471
351
-64.5%
Total assets
6,354
7,053
12,429
-9.9%
10-K for the year ended 31 December 2016, filed 24 February 2017: the filing.