Natural gas producer Comstock Q3 adjusted EPS misses estimates

Comstock Resources

03/11/2025 21:26

Overview

Comstock Q3 natural gas and oil sales totaled $335 mln, including realized hedging gains of $26.4 million,  driven by higher natural gas prices

Adjusted EPS for Q3 missed analyst expectations

Company to sell Shelby Trough assets for $430 mln in cash

Outlook

Company did not provide specific guidance for future quarters or full year in its press release

Result Drivers

HIGHER NATURAL GAS PRICES - Increased natural gas prices drove improved financial results in Q3

HAYNESVILLE WELL COMPLETIONS - Successful well completions in Haynesville area contributed to production

STRATEGIC DIVESTITURES - Divestiture of non-strategic assets to streamline operations and reduce debt

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Adjusted EPS
Miss
$0.09
$0.10 (13 Analysts)
Q3 EPS
$0.40
Q3 Adjusted Net Income
$28 mln
Q3 Adjusted EBITDAX
$249 mln
Q3 Operating Cash Flow
$190 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 9 "hold" and 4 "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 $19.00, about 1.3% above its October 31 closing price of $18.75

The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 17 three months ago

Press Release: ID:nGNX8J7TMB

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