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Comstock (CRK) Q4 Earnings: How Key Metrics Compare to Wall Street Estimates
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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.
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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Comstock (CRK) Q4 Earnings: How Key Metrics Compare to Wall Street Estimates
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.