Comstock Resources First Quarter 2024 Earnings: Beats Expectations
Comstock Resources (NYSE:CRK) First Quarter 2024 Results
Key Financial Results
Revenue: US$335.8m (down 31% from 1Q 2023).
Net loss: US$16.3m (down by 112% from US$134.2m profit in 1Q 2023).
US$0.059 loss per share (down from US$0.48 profit in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Comstock Resources Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) also surpassed analyst estimates by 35%.
Looking ahead, revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Oil and Gas industry in the US.
Performance of the American Oil and Gas industry.
The company's shares are down 4.3% from a week ago.
Risk Analysis
Don't forget that there may still be risks. For instance, we've identified 4 warning signs for Comstock Resources (2 don't sit too well with us) you should be aware of.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.