Comstock Resources (CRK) to report Q3 results: what to expect from the gas producer

what happened

Natural gas producer Comstock Resources will publish third-quarter results on Wednesday after the market closes, according to StockStory.

In the previous quarter, the company reported revenue of $332.5 million, down 4.4% year on year. Earnings per share beat analyst estimates, while oil output fell 61.5% year on year. Analysts now expect revenue to grow 16.1% year on year, after a 10.3% rise in the same quarter last year.

Peers in US natural gas production have already reported. Range Resources posted revenue growth of 17.9% and beat estimates by 1.3%, while EQT's revenue fell 9.5% and missed expectations by 9.8%. Range Resources' shares were unchanged after its report, and EQT's stock reacted in a similar way. Comstock shares are up 8% over the past month and trade at $14.11.

why it matters

For markets, these reports offer a read on the health of the US gas sector, since producers' revenue depends directly on gas prices and output volumes. The mixed results from EQT and Range Resources show that performance within the sector varies, so investors are watching individual company reports closely.

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