Comstock Resources Earnings: Everything You Need to Know Now

Comstock Resources Inc. (NYSE:CRK) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.

Comstock Resources Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased to $0.55 in the quarter versus EPS of $-0.07 in the year-earlier quarter.

Revenue: Decreased 6.87% to $106.6 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Comstock Resources Inc. reported adjusted EPS income of $0.55 per share. By that measure, the company beat the mean analyst estimate of $-0.35. It missed the average revenue estimate of $115.99 million.

Quoting Management:

Key Stats (on next page)…

Revenue decreased 8.99% from $117.13 million in the previous quarter. EPS increased to $0.55 in the quarter versus EPS of $-0.50 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.02 to a loss $0.17. For the current year, the average estimate has moved down from a loss of $1.41 to a loss of $1.58 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)