Comstock Resources Earnings Preview: Can This Streak Finally End?

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Comstock Resources (NYSE:CRK) will report earnings after markets close on Monday, April 29th. Comstock Resources, Inc., an independent exploration and production company, acquires, develops, produces, and explores oil and natural gas properties. The Company’s oil and natural gas reserves are located in the Gulf of Mexico, Texas, and Louisiana.

Here is your Cheat Sheet to Comstock Resources Earnings:

Earnings Expectations: Analysts expect earnings of $-0.46 per share on revenues of $107.90 million.

Analyst Trends:

Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a loss of $0.06 to a loss $0.3. For the current year, the average estimate is a loss of $0.93, which is worse than the estimate ninety days ago.

Earnings Trends:

Here’s how Comstock Resources has been performing on an annual basis:

Fiscal Year 2008 2009 2010 2011 2012
Revenue ($) in millions 590.31 292.80 349.14 434.37 456.19
Diluted EPS ($) 5.46 -0.81 -0.43 -0.73 -2.16

Next, our CHEAT SHEET investing framework asks us to drill down to the recent quarterly data:

Quarter Dec. 31, 2011 Mar. 31, 2012 Jun. 30, 2012 Sep. 30, 2012 Dec. 31, 2012
Revenue ($) in millions 114.46 117.06 125.03 117.13 96.98
Diluted EPS ($) -0.89 0.14 -0.22 -0.56 -1.52

Past Performance:
Comstock Resources has missed analyst estimates 4 times in the past four quarters. Shareholders could expect a bust if the company misses estimates.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

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