California Resources (CRC) FY2022 results: revenue $2.7 billion, up 43.3% on the year
California Resources Corp. (CRC) reported revenue of $2.7 billion for fiscal 2022, the year ended 31 December 2022, up 43.3% on the year before. Net income was $524 million, down 14.4%, and diluted earnings per share $6.75. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2023.
Revenue
$2.7 billion
+43.3% on the year
FY2015FY2022
Operating margin
30.0%
15.5% a year earlier
FY2015FY2022
Net income
$524 million
-14.4% on the year
FY2015FY2022
Diluted EPS
$6.75
-8.4% on the year
FY2015FY2022
this yearthe year beforeHover a bar for its figure.
$ 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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
690
660
106
+4.5%
Capital expenditure
379
194
47.0
+95.4%
Free cash flow
311
466
59.0
-33.3%
Free cash flow margin
11.5%
24.7%
3.8%
Cash from investing
-317
-161
-37.0
Cash from financing
-371
-222
-58.0
Depreciation and amortisation
198
213
362
-7.0%
Share-based compensation
30.0
19.0
3.0
+57.9%
Buybacks
313
148
0.0
+111.5%
Dividends paid
59.0
14.0
0.0
+321.4%
Dividend per share
$0.79
$0.17
n/a
+366.2%
Diluted shares, weighted
78m
83m
n/a
-6.5%
Shares outstanding at period end
72m
79m
83m
-9.3%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
1,864
1,688
1,138
+10.4%
Non-controlling interest
n/a
0.0
44.0
Redeemable equity
n/a
n/a
0.0
Debt
592
589
597
+0.5%
Operating lease liabilities
52.0
37.0
35.0
+40.5%
Finance lease liabilities
n/a
n/a
0.0
Other liabilities
1,459
1,532
1,260
-4.8%
Total liabilities and equity
3,967
3,846
3,074
+3.1%
Cash and equivalents
307
305
28.0
+0.7%
Receivables
326
245
177
+33.1%
Inventory
60.0
60.0
61.0
0.0%
Other assets
3,274
3,236
2,808
+1.2%
Total assets
3,967
3,846
3,074
+3.1%
10-K for the year ended 31 December 2022, filed 24 February 2023: the filing.