California Resources Should See FCF Boost from Berry Buy -- Market Talk

Dow Jones09-16

1606 ET - California Resources acquiring Berry should immediately boost its free cash flow by more than 10% before accounting for any synergies achieved by the tie-up, TD Cowen analysts say in a research note. The company is targeting $80 million to $90 million in synergies within 12 months of closing, which is a conservative number based largely on eliminating overhead costs, the analysts say. Synergies will likely come from reductions in corporate headcount, lower interest rates, operating improvements and supply chain efficiencies, they say. The analysts have updated their estimates for California Resources and expect to see a 13% lift in free cash flow per share for 2026. (dean.seal@wsj.com)

(END) Dow Jones Newswires

September 15, 2025 16:06 ET (20:06 GMT)

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