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California Resources Corp. reported its fourth quarter earnings on Thursday after emerging from Chapter 11 bankruptcy in October.
The Santa Clarita oil and gas production company entered Chapter 11 bankruptcy in August and emerged88 days later. As a result, the quarterly report includes both the “before” and “after” company, because “under fresh start accounting, the reorganized entity is considered a new reporting entity,” according to the company. Also, California Resources received $4.4 billion through a debt-to-equity swap, an amount considered income during the quarter.
As a result of the financial reorganization, the company reported a net income of $3.86 billon ($8 a share) on revenue of only $301 million for the quarter ending Dec. 31.
California Resources Corporation Announces Fourth Quarter 2020 and Full Year Results
By
Staff
3 weeks ago
SANTA CLARITA, Calif.–(BUSINESS WIRE)–California Resources Corporation (NYSE: CRC), an independent California-based oil and natural gas exploration and production company, today reported fourth quarter and full year 2020 results. Operational and financial highlights were as follows:
2020 Fourth Quarter and Full Year Highlights
For the full year of 2020, CRC reported net income of $1,871 million and an adjusted net loss attributable to common stock
1 of $257 million, excluding unusual and infrequent items primarily related to CRC’s bankruptcy proceedings and asset impairments
For the full year of 2020, reported net cash provided by operating activities of $106 million while generating free cash flow
TCS Group Holding PLC reports record net profit -2-
DJ TCS Group Holding PLC reports record net profit in FY 20; announces dividend plans for FY 21 and guidance for FY 21
TCS Group Holding PLC (TCS)
TCS Group Holding PLC reports record net profit in FY 20; announces dividend plans for FY 21 and guidance for FY 21
11-March-2021 / 10:00 MSK
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The issuer is solely responsible for the content of this announcement.
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TCS Group Holding PLC reports record net profit in FY 20; announces dividend plans for FY 21 and guidance for FY 21 - Total revenues grew 21% to RUB 195.8bn in FY 20 (FY 19: RUB 161.9bn)
TCS Group Holding PLC reports record net profit -3- finanznachrichten.de - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from finanznachrichten.de Daily Mail and Mail on Sunday newspapers.