Corrected: Comstock Resources Q2 oil and gas sales fall, EPS drops

Comstock Resources

29/07/2026 21:31

Corrects Adjusted Net Income Available to the Company to $8.25 mln, from $8.76 mln, in table; and adj EPS to $0.12, from $0.44, in second overview bullet

Overview
U.S. natural gas producer's Q2 oil and gas sales fell yr/yr to $332 mln
Adjusted EPS for Q2 was $0.03, down from $0.12 a year ago
Production rose 16% from Q1, but only 1% yr/yr

Outlook
Company did not provide specific guidance or outlook commentary for the current or future periods

Result Drivers
PRODUCTION GROWTH - Q2 production rose 16% from Q1, driven by turning new Haynesville wells to sales
LOWER REALIZED PRICES - Lower average realized prices for natural gas and oil reduced sales compared to a year ago
HEDGING GAINS - Realized hedging gains of $43 mln helped offset weaker market prices

Company press release: ID:nGNX2xMtRJ

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Oil & Gas Sales
 
$332 mln
 
Q2 EPS
 
$0.03
 
Q2 Adjusted Net Income Available to the Company
 
$8.25 mln
 
Q2 Adjusted EBITDAX
 
$245 mln
 
Q2 Operating Cash Flow
 
$170.20 mln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 10 "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the oil & gas exploration and production peer group is "buy."
Wall Street's median 12-month price target for Comstock Resources Inc is $16.00, about 29.2% above its July 28 closing price of $12.38
The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 22 three months ago

Reuters Recommended Reads
July 28 - Expand Energy tops profit estimates as higher output offsets lower gas prices
July 27 - Alliance Resource Partners Q2 revenue beats on higher oil & gas royalties
July 28 - India plans up to quarter of 2027 LPG imports from US, sources say

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)