Comstock Resources Earnings: Here’s Why Investors are Ambivalent Now

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

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Comstock Resources Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased to $-0.52 in the quarter versus EPS of $-0.30 in the year-earlier quarter.

Revenue: Decreased 18.83% to $95.02 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Comstock Resources Inc. reported adjusted EPS loss of $0.52 per share. By that measure, the company missed the mean analyst estimate of $-0.47. It missed the average revenue estimate of $105.57 million.

Quoting Management: There was no comment from the management.

Key Stats (on next page)…

Revenue decreased 23.4% from $124.04 million in the previous quarter. EPS increased to $-0.52 in the quarter versus EPS of $-0.55 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 loss of $0.07 to a loss $0.3. For the current year, the average estimate has moved down from a profit of $0.09 to a loss of $0.93 over the last ninety days.

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

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