California Resources (CRC) FY2017 results: revenue $2.0 billion, up 29.7% on the year
California Resources Corp. (CRC) reported revenue of $2.0 billion for fiscal 2017, the year ended 31 December 2017, up 29.7% on the year before. Net income was -$266 million, and diluted earnings per share $-6.26. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2018.
Revenue
$2.0 billion
+29.7% on the year
FY2012FY2017
Operating margin
3.6%
-18.9% a year earlier
FY2012FY2017
Net income
-$266 million
FY2012FY2017
Diluted EPS
-$6.26
FY2012FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
2,006
1,547
2,403
+29.7%
Cost of revenue
1,933
n/a
n/a
Gross profit
73.0
n/a
n/a
Gross margin
3.6%
n/a
n/a
Selling, general and administrative
249
235
354
+6.0%
Operating income
73.0
-293
-5,142
Operating margin
3.6%
-18.9%
-214.0%
Pre-tax income
-262
201
-5,476
Income tax
0.0
-78.0
-1,922
Effective tax rate
n/a
-38.8%
n/a
Net income
-266
279
-3,554
Net margin
-13.3%
18.0%
-147.9%
Diluted EPS
-$6.26
$6.76
-$92.70
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
248
130
403
+90.8%
Capital expenditure
371
75.0
401
+394.7%
Free cash flow
-123
55.0
2.0
Free cash flow margin
-6.1%
3.6%
0.1%
Cash from investing
-313
-61.0
-757
Cash from financing
73.0
-69.0
352
Depreciation and amortisation
544
559
1,004
-2.7%
Share-based compensation
29.0
30.0
37.0
-3.3%
Dividends paid
0.0
0.0
12.0
Dividend per share
n/a
n/a
$0.30
Diluted shares, weighted
42m
40m
38m
+5.2%
Shares outstanding at period end
43m
43m
39m
+0.8%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
-814
-557
-916
Non-controlling interest
94.0
n/a
n/a
Debt
5,306
5,268
6,143
+0.7%
Other liabilities
1,621
1,643
1,826
-1.3%
Total liabilities and equity
6,207
6,354
7,053
-2.3%
Fixed assets
5,696
5,885
6,312
-3.2%
Cash and equivalents
20.0
12.0
12.0
+66.7%
Receivables
277
232
200
+19.4%
Inventory
56.0
58.0
58.0
-3.4%
Other assets
158
167
471
-5.4%
Total assets
6,207
6,354
7,053
-2.3%
10-K for the year ended 31 December 2017, filed 27 February 2018: the filing.