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Compared to Estimates, Comstock (CRK) Q3 Earnings: A Look at Key Metrics
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For the quarter ended September 2023, Comstock Resources (CRK - Free Report) reported revenue of $376.74 million, down 68.3% over the same period last year. EPS came in at $0.04, compared to $1.18 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $342.46 million, representing a surprise of +10.01%. The company delivered an EPS surprise of -33.33%, with the consensus EPS estimate being $0.06.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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 gas price: $2.33 versus $2.27 estimated by three analysts on average.
Average oil price: $77 compared to the $77 average estimate based on two analysts.
Total Production: 130,629 MMcfe compared to the 129,095.5 MMcfe average estimate based on two analysts.
Average gas price including hedging: $2.41 versus $2.37 estimated by two analysts on average.
Revenue- Natural gas sales: $304.14 million versus the two-analyst average estimate of $333.98 million. The reported number represents a year-over-year change of -69.4%.
Revenue- Oil sales: $1.31 million compared to the $1.51 million average estimate based on two analysts. The reported number represents a change of -32.4% year over year.
Shares of Comstock have returned +11.1% over the past month versus the Zacks S&P 500 composite's -3.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Compared to Estimates, Comstock (CRK) Q3 Earnings: A Look at Key Metrics
For the quarter ended September 2023, Comstock Resources (CRK - Free Report) reported revenue of $376.74 million, down 68.3% over the same period last year. EPS came in at $0.04, compared to $1.18 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $342.46 million, representing a surprise of +10.01%. The company delivered an EPS surprise of -33.33%, with the consensus EPS estimate being $0.06.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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 gas price: $2.33 versus $2.27 estimated by three analysts on average.
- Average oil price: $77 compared to the $77 average estimate based on two analysts.
- Total Production: 130,629 MMcfe compared to the 129,095.5 MMcfe average estimate based on two analysts.
- Average gas price including hedging: $2.41 versus $2.37 estimated by two analysts on average.
- Revenue- Natural gas sales: $304.14 million versus the two-analyst average estimate of $333.98 million. The reported number represents a year-over-year change of -69.4%.
- Revenue- Oil sales: $1.31 million compared to the $1.51 million average estimate based on two analysts. The reported number represents a change of -32.4% year over year.
View all Key Company Metrics for Comstock here>>>Shares of Comstock have returned +11.1% over the past month versus the Zacks S&P 500 composite's -3.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.