Comstock Q2 Sales Slump to $332M, EPS Plunges to $0.03
CRK is trading near its 52-week low of $12.215 (3.2% above the low).
Summary
Comstock Resources reported Q2 oil and gas sales of $332 million, down sharply from a year ago, with adjusted EPS falling to $0.03 from $0.44. Lower realized natural gas and oil prices drove the decline, though production rose 16% sequentially from Q1 as new Haynesville wells came online. Realized hedging gains of $43 million provided some offset. This follows a Q1 that saw a net income turnaround driven by non-cash derivative gains, but the core operational trend remains weak. With the stock trading near its 52-week low of $12.22, the results underscore persistent pressure on cash generation despite hedging support. No guidance was provided, leaving the market to assess whether production growth can outrun weak pricing in the second half.
At the time of this announcement, CRK was trading at $12.61 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $3.7B. The 52-week trading range was $12.22 to $28.10. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Reuters.