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Comstock Resources (CRK)
NYSE:CRK
Earnings Data
Report Date
May 05, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.23Last Year’s EPS
0.18Same Quarter Last Year
Moderate Sell
Based on 10 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
Overall the call highlighted strong financial and operational progress: robust cash flow and EBITDAX, substantial reserve additions at a low finding cost, successful asset sales that materially improved liquidity and leverage, and strategic initiatives (NextEra data center JV and Pinnacle recapitalization) that support long-term growth. Key challenges include a meaningful production decline in 2025 (-14% YoY), some Q4 drilling/ completion cost increases and localized well underperformance (water handling), and near-term timing volatility tied to weather and gas prices. Management emphasized flexibility to scale activity with prices and multiple initiatives to lower future D&C costs, which supports a constructive outlook despite near-term operational headwinds.Company Guidance
Strong cash generation and profitability (Q4 and 2025)
Q4 oil & gas sales grew to ~$365M and operating cash flow was $222M ($0.75/share). Adjusted EBITDAX for Q4 was $277M and adjusted net income was $46M ($0.16/share). For full-year 2025, oil & gas sales rose 15% to $1.40B, EBITDAX totaled $1.10B and operating cash flow was $861M.
Major divestitures and balance sheet improvement
Completed $445M of divestitures in Q3–Q4 2025 (including Shelby Trough sale with $417M net proceeds), recognized a pretax gain of ~$292M, used proceeds to reduce borrowings and reduce revolver borrowings to $260M. Liquidity built to nearly $1.3B and LTM leverage improved to 2.6x.
Significant reserve additions and low finding cost
2025 drilling-related proved reserve additions of ~1.1 Tcfe replaced 229% of 2025 production; proved reserves totaled ~7.2 Tcfe (NYMEX-adjusted) and grew ~8% excluding asset sales. Overall finding cost was $1.02 per Mcfe for 2025.
Drilling activity and well productivity (2025)
Drilled 52 gross (44.2 net) successful operated Haynesville/Bossier wells in 2025 with an average IP of 27 MMcf/d. Legacy Haynesville: 35 wells turned to sales with average lateral 11,738 ft and average IP ~25 MMcf/d. Western Haynesville: turned 12 wells to sales with average lateral 8,399 ft and average IP ~29 MMcf/d.
Lower full-year drill-and-complete costs vs. 2024
Total 2025 drill-and-complete cost averaged $1,347/ft, ~11% lower than 2024 average of $1,510/ft, and company emphasized several ongoing efficiency initiatives (additional frac fleet, rotary steerable trials, insulated drill pipe, rig & frac upgrades).
High operating efficiency and margin
Q4 operating cost per Mcfe averaged $0.77 and EBITDAX margin was 77% (up 3 percentage points vs. Q3), with small improvements in lifting cost and production/ad valorem taxes.
Strategic partnership for data centers and midstream development
Announced partnership with NextEra for a Western Haynesville data center project (initial behind-the-meter generation 2 GW, expandable to 8 GW). Also planning Pinnacle Gas Services recapitalization (new credit facility and equity sale) to support midstream growth tied to Western Haynesville development.
Outstanding shareholder returns
Comstock reported the highest total shareholder return among public E&P companies over the last two years at 162% (roughly double the second highest), highlighting strong market performance.
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 |
|---|---|---|---|
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% |
Apr 30, 2025 | $18.27 | $18.87 | +3.28% |
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 May 05, 2026, Before Open (Confirmed).
What is Comstock Resources (CRK) earnings time?
Comstock Resources (CRK) earnings time is at May 05, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
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 (Q1) is 0.23.