The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Comstock Resources beat expectations on revenues and exceeded expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly and GAAP loss per share grew.
Gross margins expanded, operating margins dropped, net margins contracted.
Comstock Resources reported revenue of $119.4 million. The seven analysts polled by S&P Capital IQ hoped for sales of $116.8 million. Sales were 58% higher than the prior-year quarter's $79.7 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions.
Non-GAAP EPS came in at -$0.01. The 12 earnings estimates compiled by S&P Capital IQ predicted -$0.08 per share on the same basis. GAAP EPS were -$0.89 for Q3 against -$0.45 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Figures may be non-GAAP to maintain comparability with estimates.
For the quarter, gross margin was 82.8%, 710 basis points better than the prior-year quarter. Operating margin was -46.8%, 4,190 basis points worse than the prior-year quarter. Net margin was -35.9%, 750 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $112.3 million. On the bottom line, the average EPS estimate is -$0.11.
Next year's average estimate for revenue is $429.4 million. The average EPS estimate is -$0.27.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 279 members rating the stock outperform and 25 members rating it underperform. Among 77 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 72 give Comstock Resources a green thumbs-up, and five give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Comstock Resources is outperform, with an average price target of $26.00.
How did Comstock Resources treat you during the oil spike in 2008 and the subsequent bust? More importantly, what are you doing to prepare for the next spike that some experts believe another spike may be just around the corner? Prepare yourself with a well-positioned energy stock we profile in "The Only Energy Stock You'll Ever Need." Click here for instant access to this free report.
- Add Comstock Resources to My Watchlist.