Investing.com - Comstock Resources (NYSE: CRK) reported fourth quarter EPS of $1.050, $0.18 better than the analyst estimate of $0.870. Revenue for the quarter came in at $922.38M versus the consensus estimate of $591.72M.
Huge on Revenue beat; 55.9%
CRK Results for 2022 and 4th QTR
Re: CRK Results for 2022 and 4th QTR
CRK press release say revenue was Total oil and gas sales including hedging was $ 557,916
You mentioned gross sales which doesn't have the hedge loss (what I refer to as crap hedges) for the qtr impact was 184 m and for the year 863 m which flew flew flew away. Also in the gross revenue is 181 in gas services which is taking others people NG and reselling it. The cost was 160 m so they made 21 m transporting other peoples NG
Dan had analyst's at .89 and his number was 1.15. So they beat the analyst number but fell short on Dan's model
I hope that didn't trigger anyone.
You mentioned gross sales which doesn't have the hedge loss (what I refer to as crap hedges) for the qtr impact was 184 m and for the year 863 m which flew flew flew away. Also in the gross revenue is 181 in gas services which is taking others people NG and reselling it. The cost was 160 m so they made 21 m transporting other peoples NG
Dan had analyst's at .89 and his number was 1.15. So they beat the analyst number but fell short on Dan's model
I hope that didn't trigger anyone.
Re: CRK Results for 2022 and 4th QTR
Operating cash flow beat my forecast. Reported net income is really not important and often misleading. Operating and free cash flow for the year was very close to my forecast.
All of my forecasts and stock valuations include estimates cash settlements on their hedges. You will be very happy that they hedged with collars the next two quarters.
All of my forecasts and stock valuations include estimates cash settlements on their hedges. You will be very happy that they hedged with collars the next two quarters.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group