Yahoo Finance Comstock Resources Full Year 2022 Earnings: Beats Expectations
Comstock Resources (NYSE:CRK) Full Year 2022 Results
Key Financial Results
Revenue: US$3.63b (up 96% from FY 2021).
Net income: US$1.12b (up from US$259.2m loss in FY 2021).
Profit margin: 31% (up from net loss in FY 2021). The move to profitability was driven by higher revenue.
EPS: US$4.77 (up from US$1.12 loss in FY 2021).
CRK Production
Oil Sales Price
Average sales price/bbl (hedged): US$92.65.
Gas Sales Price
Average sales price/mcf (hedged): US$4.50.
Combined production
Oil equivalent production: 83.518 MMboe (82.756 MMboe in FY 2021).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Comstock Resources Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 27%. Earnings per share (EPS) also surpassed analyst estimates by 35%.
Looking ahead, revenue is expected to fall by 25% p.a. on average during the next 2 years compared to a 5.6% decline forecast for the Oil and Gas industry in the US.
Performance of the American Oil and Gas industry.
The company's shares are up 10% from a week ago.
Risk Analysis
You should always think about risks. Case in point, we've spotted 4 warning signs for Comstock Resources you should be aware of, and 1 of them makes us a bit uncomfortable.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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