The 10-second takeaway
For the quarter ended March 31 (Q1), Comstock Resources beat expectations on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped. Non-GAAP loss per share expanded. GAAP earnings per share contracted to a loss.
Gross margins increased, operating margins dropped, net margins dropped.
Comstock Resources reported revenue of $111.3 million. The six analysts polled by S&P Capital IQ anticipated sales of $106.1 million on the same basis. GAAP reported sales were 14% lower than the prior-year quarter's $110.3 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at -$0.54. The 15 earnings estimates compiled by S&P Capital IQ predicted -$0.47 per share. Non-GAAP EPS were -$0.54 for Q1 versus -$0.30 per share for the prior-year quarter. GAAP EPS were -$0.58 for Q1 versus $0.14 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 79.4%, 320 basis points better than the prior-year quarter. Operating margin was -21.9%, much worse than the prior-year quarter. Net margin was -28.6%, much worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $110.0 million. On the bottom line, the average EPS estimate is -$0.29.
Next year's average estimate for revenue is $448.4 million. The average EPS estimate is -$0.90.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 279 members out of 303 rating the stock outperform, and 24 members rating it underperform. Among 61 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 52 give Comstock Resources a green thumbs-up, and nine 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 $20.91.
Is Comstock Resources the right energy stock for you? Read about a handful of timely, profit-producing plays on expensive crude in "3 Stocks for $100 Oil." Click here for instant access to this free report.
- Add Comstock Resources to My Watchlist.