Quarterly ResultMay 5, 2026, 04:16 PM
Comstock Resources Q1 Net Income $112.5M, EPS $0.38
AI Summary
Comstock Resources reported Q1 2026 financial and operating results, with net income available to the company significantly improving to $107.5 million, or $0.38 per diluted share, compared to a loss in the prior year. However, adjusted net income decreased to $44.5 million, and operating cash flow also saw a decline to $191.9 million. The company turned 16 operated Haynesville/Bossier shale wells to sales, with an average initial production rate of 30 MMcf per day, but also reported a significant increase in free cash deficit.
Key Highlights
- Net income available to the Company was $107.5 million, or $0.38 per diluted share, compared to a loss of $121.3 million in Q1 2025.
- Natural gas and oil sales, including realized hedging losses, were $339 million for the quarter.
- Adjusted net income was $44.5 million, or $0.15 per share, down from $53.8 million in Q1 2025.
- Operating cash flow was $191.9 million, or $0.66 per share, a decrease from $239.0 million in Q1 2025.
- Adjusted EBITDAX for the quarter was $251 million, down from $293.0 million in Q1 2025.
- Total production was 97,919 MMcfe, a decrease from 115,091 MMcfe in Q1 2025.
- Turned 16 operated Haynesville/Bossier shale wells to sales, averaging 30 MMcf per day initial production.
- Free cash deficit from operations increased significantly to $(206.1) million from $(22) million in Q1 2025.