Comstock Resources swings to $14.5 million Q1 net loss as gas prices weaken
Comstock Resources reported a first-quarter 2024 net loss of $14.5 million, or $0.05 per share, compared with net income of $134.5 million, or $0.49 per diluted share, a year earlier. Total revenues fell to $335.8 million from $489.6 million, and the company said continued weak natural gas prices weighed heavily on results, which matters to shareholders because earnings and cash flow both declined sharply.
Key points
- Total revenues were $335.8 million, down from $489.6 million in the first quarter of 2023.
- Net loss was $14.5 million, or $0.05 per share, versus net income of $134.5 million, or $0.49 per diluted share, a year earlier.
- Adjusted net loss was $8.5 million, or $0.03 per share; adjusted EBITDAX was $230 million versus $293.5 million.
- Average natural gas price was $2.06 per Mcf, down from $2.98, and operating cash flow was $182.0 million versus $254.9 million.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:01 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 01, 2024.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.