CRK
Comstock Resources, Inc.21.28
-0.41-1.89%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Key Stats
Market Cap
6.24BP/E (TTM)
92.52Basic EPS (TTM)
0.23Dividend Yield
0%Recent Filings
10-K
8-K
10-Q
8-K
Strong Q3 earnings, asset sales
Comstock Resources reported stronger Q3 2025 results, fueled by higher natural gas prices that lifted sales to $335 million including hedging gains, with operating cash flow at $190 million and adjusted EBITDAX at $249 million. The company turned three Western Haynesville wells to sales, averaging 32 MMcf per day initial rates, while divesting legacy Cotton Valley assets for $15 million and agreeing to sell Shelby Trough properties for $430 million to cut debt. Production costs held steady at $0.77 per Mcfe, yielding a 74% hedged operating margin. Divestitures sharpen focus on core Haynesville plays.
10-Q
Q2 FY2025 results
Comstock Resources swung to operating income of $89.4 million in Q2 2025 ended June 30, up from a $92.5 million loss a year earlier, fueled by natural gas sales jumping 56% y/y to $339.2 million on higher prices despite 14% lower production of 112.2 Bcf. Total revenues doubled to $470.3 million, boosted by gas services surging 346% y/y to $130.3 million from third-party volumes. Yet net income of $130.7 million reflected a $235.8 million derivative gain, while YTD operating income hit $215.6 million versus last year's $105.3 million loss, with diluted EPS at $0.05 aligning with 294 million shares. Cash swelled to $25.9 million on $522.3 million operating inflows, minus $639.3 million capex yielding negative FCF of $117.0 million (derived); debt stood at $3.0 billion with $1.0 billion revolver availability under covenants met. Non-GAAP metrics not disclosed in the 10-Q. Volatility in natural gas prices remains a key risk.
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