CRK Earnings Prediction
The chart below shows how CRK performed 10 days before and after its earnings report, based on data from the past quarters. Typically, CRK sees a -1.18% change in stock price 10 days leading up to the earnings, and a +2.57% change 10 days following the report. On the earnings day itself, the stock moves by -0.06%. This data can give you a slight idea of what to expect for the next quarter's release.
CRK Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
304.47M
-19.18%
23.35%
Gross Margin
-17.00%
-211.62%
-48.67%
Operating Margin
-20.44%
-262.87%
-45.45%
Net Margin
-8.45%
-316.11%
-83.08%
EPS
-0.10
-300.00%
-77.27%
No Data Available
CRK Earnings Analysis
Comstock Resources, Inc. Corporation (CRK.N) Earnings Conference Call
Positive
Production Efficiency Improvement: 1. Increased Production: Comstock's production in Q3 averaged 1.4 Bcfe per day, a 2% increase compared to Q3 2023, demonstrating operational efficiency despite challenging market conditions.
Cash Flow Performance: 2. Strong Cash Flow Generation: The company generated $152 million in cash flow from operations during the third quarter, reflecting robust operational performance.
Cost Management in Well Development: 3. Cost Reduction in Well Development: The completion of the 13th well in the Western Haynesville achieved a cost of approximately $2,814 per lateral foot, showcasing significant cost management efforts.
Initial Production Success: 4. Successful Initial Production Rates: The first horseshoe well achieved an impressive initial production rate of 31 million cubic feet per day, indicating strong potential for future wells in this category.
Strong Financial Foundation: 5. Robust Liquidity Position: Comstock ended the quarter with $1.1 billion in liquidity, providing a strong financial foundation to navigate the current market environment.
Negative
Natural Gas Price Decline: 1. Weak Natural Gas Prices: The average realized gas price before hedging was $1.90 for the quarter, significantly impacting financial results.
Adjusted Net Loss Report: 2. Adjusted Net Loss: The company reported an adjusted net loss of $49 million for the third quarter, equating to $0.17 per share, primarily due to higher depreciation and depletion costs.
Oil and Gas Sales Decline: 3. Decline in Oil and Gas Sales: Oil and gas sales decreased by 3% to $305 million in the third quarter compared to the previous year, driven by low natural gas prices.
Debt Concerns: 4. Increased Debt Levels: The company ended the quarter with $3 billion in total debt, including $415 million in borrowings under its credit facility, raising concerns about financial leverage.
Production Decline Forecast: 5. Production Decline Expected: Fourth quarter production is expected to decline by approximately 10% compared to the same period in 2023, reflecting the impact of reduced rig activity.
CRK FAQs
How does CRK typically perform around its earnings report dates?
Is Comstock Resources, Inc. (CRK) Q3 2024 Earnings Call Summary positive or negative?
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CRK Earning Call Sentiment
Comstock Resources, Inc. (CRK) Q3 2024 Earnings Call Transcript
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00:00
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CRK.N
0.16%Positive
The earnings call summary reveals mixed signals. Basic financial performance is weak due to a net loss and low gas prices, but drilling efficiencies and cost reductions are positive. The Q&A section highlights management's avoidance of clear guidance on rig additions, indicating uncertainty. Market strategy and shareholder returns are not strongly positive, and while liquidity is strong, the overall sentiment remains neutral. The market cap suggests moderate volatility, supporting a neutral stock price prediction (-2% to 2%) over the next two weeks.
