Comstock Resources (CRK)
NYSE:CRK
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Earnings Data
Report Date
Aug 04, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.06Last Year’s EPS
0.13Same Quarter Last Year
Moderate Sell
Based on 8 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a predominantly positive strategic and operational outlook supported by robust liquidity, strong drilling results (multi-well high IPs), a large Western Haynesville inventory, meaningful cost-saving initiatives (horseshoe wells, longer laterals, equipment upgrades) and a major commercial development (5.2 GW NextEra power hub) that could drive long-term demand. Near-term challenges included weather-driven production declines, basis/hedge-related realized price pressure, some underperforming wells (water during flowback), and higher per-unit costs in the quarter. Management framed these issues as temporary and actionable (bigger fracs, conservative drawdown, technology adoption, additional frac fleet), emphasized balance-sheet protection and a deliberate pace of development to preserve value.Company Guidance
Top-Line and Cash Generation
Natural gas and oil sales of $339 million in Q1; operating cash flow of $192 million ($0.66 per share); adjusted EBITDAX of $251 million; adjusted net income of $44 million ($0.15 per share). Reported net income was $107 million ($0.38 per share) including a pretax $83 million unrealized hedge gain.
Strong Well Results and Production Upside
Turned 13 wells to sales (11.7 net) in Q1 with average per-well IP of 31 MMcf/d; six new Western Haynesville wells averaged 29 MMcf/d IP; legacy Haynesville recent wells averaged 31 MMcf/d with average laterals of 12,312 ft. Company expects production to recover and grow in subsequent quarters (management cited ~13–15% higher Q2 production expectation).
Significant Western Haynesville Resource and Inventory
Total prospective footprint of ~874,868 gross / 806,980 net acres; Western Haynesville grown to >540,000 net acres. Western inventory ~3,331 gross / 2,546 net locations; legacy operated inventory 955 gross / 740 net locations. Over 80% of gross operated inventory have laterals >8,500 ft and average legacy lateral length is ~10,019 ft.
Major Commercial Opportunity — 5.2 GW Power Generation Hub
U.S. Department of Commerce selected the company's Western Haynesville site to host a NextEra-built 5.2 GW natural gas-fired power generation hub under the U.S.–Japan investment program. Comstock would supply gas (potentially ~1 Bcf/d by 2031), creating a large long-term commercial customer near its acreage.
Capital Deployment and Operational Scale
Drilling & completion spend of $343 million in the quarter; drilled 17 wells (15.3 net) and turned 13 wells to sales; operating three full-time frac fleets since January and adding a fourth fleet (to run four fleets through year-end).
Drilling / Completion Efficiency Gains
Legacy benchmark long-lateral wells averaged 26 days to TD and 921 ft/day (a 3% increase vs 2025). Legacy drilling cost averaged $700/ft (3% higher vs Q4) while legacy completion cost decreased to $652/ft (9% lower vs Q4). Record long lateral drilled in Western Haynesville ~14,800 ft with promising results.
Strong Liquidity and Capital Structure
Ended Q1 with approximately $1.3 billion of liquidity; upstream borrowings $350 million with a $2.0 billion borrowing base and $1.5 billion elected commitment; new $150 million midstream credit facility (Pinnacle) with $47 million outstanding; last-twelve-month leverage ratio ~2.9x.
Horseshoe Program and Cost Savings
Introduced a horseshoe well design combining two adjacent short laterals into a single longer lateral; realized ~35% drilling cost savings versus two 5,000-ft sectional laterals. Camp Tech horseshoe well IP of 41 MMcf/d; plan to drill 16 horseshoe wells in 2026.
CRK Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
CRK Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 05, 2026 | $17.33 | $14.99 | -13.50% |
Feb 11, 2026 | $20.42 | $19.18 | -6.07% |
Nov 03, 2025 | $19.23 | $20.05 | +4.26% |
Jul 30, 2025 | $20.79 | $17.87 | -14.05% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Comstock Resources (CRK) report earnings?
Comstock Resources (CRK) is schdueled to report earning on Aug 04, 2026, Before Open (Confirmed).
What is Comstock Resources (CRK) earnings time?
Comstock Resources (CRK) earnings time is at Aug 04, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CRK EPS forecast?
CRK EPS forecast for the fiscal quarter 2026 (Q2) is 0.06.