Comstock Q3 net income $118 million vs. loss a year earlier on higher gas prices
Comstock Resources reported third quarter 2025 results, with net income of $118 million ($0.40 per diluted share) compared with a net loss of $25.7 million a year earlier. The result includes a $116.4 million unrealized hedging gain, and adjusted net income was $27.9 million ($0.09 per share), which management attributes largely to higher natural gas prices. The company also said it expects to close the $430 million Shelby Trough sale in December 2025 and use the proceeds to reduce long-term debt.
Key points
- Total revenues were $449.9 million, up from $304.5 million in the third quarter of 2024.
- Natural gas and oil sales including realized hedging gains were $335 million; operating cash flow was $190 million ($0.65 per diluted share).
- Adjusted net income was $27.9 million ($0.09 per diluted share), compared with an adjusted net loss of $48.5 million a year earlier.
- The $430 million Shelby Trough divestiture, agreed October 10, 2025, is expected to close in December 2025.
The filing
Written by AI on Nov 8, 2026, 1:01 AM ET, from this filing 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 November 03, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.