U.S. Markets closed

Comstock: 3Q Earnings Snapshot

·1 min read

FRISCO, Texas (AP) _ Comstock Resources Inc. (CRK) on Wednesday reported a loss of $126.5 million in its third quarter.

The Frisco, Texas-based company said it had a loss of 57 cents per share. Losses, adjusted for non-recurring costs, came to 6 cents per share.

The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.

The oil and gas company posted revenue of $178 million in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $219 million.

Comstock shares have dropped 38% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $5.07, a drop of 29% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CRK at https://www.zacks.com/ap/CRK