Comstock reports record Q3 operating cash flow of $533M, reinstates quarterly dividend

COMSTOCK RESOURCES INC

2022-Q3 EPS reported $2.24 revenue$2,705,673,000

Operating cash flow of $533M ($1.92/diluted share); free cash flow $286M.
Adjusted net income $326M ($1.18/diluted share); oil & gas sales $692M, up 76% YoY.
Retired $250M of debt; leverage reduced to under 1x.
Board reinstates quarterly dividend at $0.125/share ($0.50 annual), payable Dec 15 to holders of record Dec 1.
17 operated Haynesville wells turned to sales with average initial production of 29 MMcf/d.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

COMSTOCK RESOURCES INC reported the nine months ended September 30, 2022 results: revenue $1.7 billion, net income $608.0 million, EPS $2.24 per share.

Period: the nine months ended September 30, 2022
Revenue: $1.7 billion
Net income: $608.0 million
EPS: $2.24 per share
Result: reported results

Exact text from the filing

Revenues for the nine months ended September 30, 2022 totaled $1.7 billion (after realized hedging losses of $679.0 million). Net cash provided by operating activities (excluding changes in working capital) generated during the first nine months of 2022 was $1.3 billion, and income available to common stockholders was $608.0 million or $2.24 per share.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

COMSTOCK RESOURCES INC reported the quarter ended September 30, 2022 results: revenue $692.4 million, net income $351.2 million, EPS $1.28 per share.

Period: the quarter ended September 30, 2022
Revenue: $692.4 million
Net income: $351.2 million
EPS: $1.28 per share
Result: reported results

Exact text from the filing

Comstock's revenues in the third quarter of 2022 totaled $692.4 million (after realized hedging losses of $304.5 million). Net cash provided by operating activities (excluding changes in working capital) generated in the third quarter was $532.9 million, and net income available to common stockholders for the third quarter of 2022 was $351.2 million or $1.28 per share.

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Source: SEC EDGAR

accession 0000023194-22-000037

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