Earnings Releases·Nov 4, 2026, 6:24 PM ET

Comstock Resources, Inc. — Third Quarter 2026 Earnings Summary

Revenue increased 7.3% year-over-year to $359.3 million, while operating cash flow rose 17.7% to $180.2 million; however, net income declined 80% to $22.3 million ($0.08/share) due to lower adjusted net income of $5.9 million, despite a $35.1 million unrealized hedging gain included in the quarter's results.
Production grew 9% year-over-year to 122.4 Bcfe, supported by the addition of 23 operated wells, while production costs rose to $0.80 per Mcfe and long-term debt increased to $3.36 billion.
The company announced a definitive agreement to sell non-operated interests in Haynesville assets and Pinnacle Gas Services to SOCAR for $1.65 billion, with proceeds expected to close by year-end 2026 to retire debt and extend the bank credit facility maturity to November 15, 2031.
A $450 million Haynesville drilling venture with Jerry Jones is projected to generate free cash flow in the fourth quarter, and capital expenditures totaled $382.9 million for the quarter.