California Resources Corporation (CRC) stock is soaring 6.20% in intraday trading on Wednesday, building on its pre-market gains following the release of its impressive first-quarter 2025 financial results. The independent oil and natural gas company significantly outperformed analyst expectations, demonstrating robust operational performance and financial strength.

CRC reported adjusted earnings per share of $1.07 for Q1 2025, handily beating the consensus estimate of $0.78 by 37.18%. This represents a substantial 42.67% increase from the same period last year. The company's revenue also exceeded expectations, reaching $912 million and surpassing analyst projections of $861.62 million by 5.90%. This marks a remarkable 100.88% year-over-year growth in sales, showcasing the company's strong market position and operational efficiency.

Other highlights from the earnings report include a net income of $115 million, adjusted net income of $98 million, and an adjusted EBITDAX of $328 million. California Resources maintained stable production levels and reaffirmed its 2025 guidance, further boosting investor confidence. The company also emphasized its commitment to stakeholder returns, having distributed $258 million during the quarter. With analysts maintaining a "buy" rating on the stock and the company's strong financial performance, CRC appears well-positioned for continued growth in the energy sector.