Comstock Resources reports Q1 2024 net loss of $14.5M amid weak nat gas prices

COMSTOCK RESOURCES INC

2024-Q1 EPS reported -$0.05 revenue$335,772,000

Natural gas and oil sales (including hedging gains of $48M) totaled $336M.
Adjusted net loss of $8.5M ($0.03 per share); GAAP net loss $14.5M ($0.05 per share).
Operating cash flow of $182M; production cost averaged $0.76 per Mcfe.
Added $100.5M liquidity via private placement equity offering to majority stockholder.
Expanded Western Haynesville leasehold by 198K net acres to over 450K net acres.

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 0.99

COMSTOCK RESOURCES INC reported the quarter ended March 31, 2024 results: revenue $336.0 million (including realized hedging gains of $48.0 million), net income net loss available to common stockholders...was $14.5 million, EPS $0.05 per share.

Period: the quarter ended March 31, 2024
Revenue: $336.0 million (including realized hedging gains of $48.0 million)
Net income: net loss available to common stockholders...was $14.5 million
EPS: $0.05 per share
Result: reported results

Exact text from the filing

of 2024 's First Quarter • Continued weak natural gas prices weighed heavily on the first quarter results. • Natural gas and oil sales, including realized hedging gains, were $336 million. • Operating cash flow was $182 million or $0.65 per diluted share. • Adjusted EBITDAX for the quarter was $230 million. • Adjusted net loss was $8.5 million for the quarter. •

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Source: SEC EDGAR

accession 0000950170-24-051308

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