Comstock (CRK) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
For the quarter ended June 2023, Comstock Resources (CRK) reported revenue of $288.21 million, down 69.5% over the same period last year. EPS came in at $0.00, compared to $1.00 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $330.76 million, representing a surprise of -12.86%. The company delivered an EPS surprise of -100.00%, with the consensus EPS estimate being $0.05.
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 oil price including hedging: $66.15 versus $69.32 estimated by three analysts on average.
Average gas price: $1.81 compared to the $2.25 average estimate based on three analysts.
Average oil price: $66.15 versus the two-analyst average estimate of $77.68.
Average gas price including hedging: $2.25 compared to the $2.24 average estimate based on two analysts.
Total Production: 126386 MMcfe versus the two-analyst average estimate of 128471.2 MMcfe.
Revenue- Natural gas sales: $228.89 million versus $315.95 million estimated by two analysts on average.
Revenue- Oil sales: $0.86 million compared to the $1.56 million average estimate based on two analysts.
View all Key Company Metrics for Comstock here>>>
Shares of Comstock have returned +7.9% over the past month versus the Zacks S&P 500 composite's +4.7% 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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Comstock Resources, Inc. (CRK) : Free Stock Analysis Report
