Comstock Resources (CRK - Free Report) reported $410.58 million in revenue for the quarter ended December 2023, representing a year-over-year decline of 55.5%. EPS of $0.10 for the same period compares to $1.05 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $418.94 million, representing a surprise of -2.00%. The company delivered an EPS surprise of -37.50%, with the consensus EPS estimate being $0.16.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Comstock performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Average natural gas price: $2.48 compared to the $2.69 average estimate based on three analysts.
- Average oil price: $80.77 versus $75.09 estimated by two analysts on average.
- Total Production: 140,649 MMcfe compared to the 137,920.2 MMcfe average estimate based on two analysts.
- Average natural gas price including hedging: $2.51 versus $2.64 estimated by two analysts on average.
- Revenues- Natural gas sales: $348.39 million compared to the $378.16 million average estimate based on two analysts. The reported number represents a change of -52.9% year over year.
- Revenues- Oil sales: $1.05 million versus $0.93 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -17.5% change.
View all Key Company Metrics for Comstock here>>>Shares of Comstock have returned -13.5% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.
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It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
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Comstock Resources (CRK - Free Report) reported $410.58 million in revenue for the quarter ended December 2023, representing a year-over-year decline of 55.5%. EPS of $0.10 for the same period compares to $1.05 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $418.94 million, representing a surprise of -2.00%. The company delivered an EPS surprise of -37.50%, with the consensus EPS estimate being $0.16.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Comstock performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Average natural gas price: $2.48 compared to the $2.69 average estimate based on three analysts.
- Average oil price: $80.77 versus $75.09 estimated by two analysts on average.
- Total Production: 140,649 MMcfe compared to the 137,920.2 MMcfe average estimate based on two analysts.
- Average natural gas price including hedging: $2.51 versus $2.64 estimated by two analysts on average.
- Revenues- Natural gas sales: $348.39 million compared to the $378.16 million average estimate based on two analysts. The reported number represents a change of -52.9% year over year.
- Revenues- Oil sales: $1.05 million versus $0.93 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -17.5% change.
View all Key Company Metrics for Comstock here>>>Shares of Comstock have returned -13.5% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
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