Comstock Resources Earnings: Here’s Why Investors Don’t Like These Results

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. Shares are down 0.67%.

Comstock Resources Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased to $-0.40 in the quarter versus EPS of $-0.43 in the year-earlier quarter.

Revenue: Decreased 13.7% to $107.9 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Comstock Resources Inc. reported adjusted EPS loss of $0.40 per share. By that measure, the company missed the mean analyst estimate of $-0.27. It missed the average revenue estimate of $112.85 million.

Key Stats (on next page)…

Revenue increased 13.56% from $95.02 million in the previous quarter. EPS increased to $-0.40 in the quarter versus EPS of $-0.54 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 $0.15 to a loss $0.18. For the current year, the average estimate has moved down from a loss of $0.93 to a loss of $0.98 over the last ninety days.

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