Every 10-Q that Comstock Resources, Inc. (CRK) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow CRK and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full CRK filings page.
Comstock Resources, Inc. reported Q2 2026 natural gas and oil sales of $288.2 million, down from $340.0 million a year earlier, as realized natural gas prices fell to $2.54 per Mcf from $3.02. Total revenue was $353.3 million and net income available to the company declined to $8.8 million, or $0.03 per diluted share, from $124.8 million, or $0.44 per share.
For the first six months of 2026, natural gas and oil sales were $707.3 million versus $753.0 million in 2025, but net income available to the company increased to $116.2 million, or $0.40 per diluted share, from $3.6 million, aided by $46.8 million of net gains on derivative financial instruments compared with a $94.5 million loss in the prior-year period. Operating cash flow was $442.2 million, funding $829.5 million of cash capital expenditures, including 34 gross Haynesville and Bossier wells drilled and 29 completed.
Total assets reached $7.52 billion, with long-term debt of $3.10 billion and approximately $1.2 billion of liquidity, including $45.0 million of cash and $1.1 billion of unused capacity under bank credit facilities. A June 2026 transaction in the Pinnacle Gas Services joint venture redeemed a prior partner’s interest for $445 million and brought in $600 million from a new investor, increasing noncontrolling interest to $584.4 million while Comstock retained control and continues consolidating PGS. The company also maintained an active hedging program using swaps and collars on portions of its 2026–2027 natural gas production.
Comstock Resources returned to profitability in Q1 2026, reporting net income of $112.5 million, or $0.38 per diluted share, compared with a net loss of $115.4 million a year earlier. Total revenues and other operating income rose to $587.4 million from $512.9 million.
Natural gas production declined 15% to 97.9 Bcf, but the average realized gas price increased to $4.27 per Mcf, lifting sales. The company recorded a $2.4 million gain on derivatives versus a large prior-year loss, and operating cash flow grew to $272.0 million. Capital spending was heavy at $405.0 million cash, mainly for Haynesville and Bossier drilling and midstream assets.
Long-term debt totaled $2.95 billion, including senior notes due 2029 and 2030 and bank borrowings, while total liquidity was about $1.27 billion. Comstock also outlined extensive natural gas hedges through 2027 and expects to redeem $440 million of joint-venture units at Pinnacle Gas Services in the second quarter of 2026.
Comstock Resources (CRK) reported a profitable Q3 2025 as higher natural gas prices and hedge gains lifted results. Total revenue was $449.9 million, up from $304.5 million a year ago, driven by natural gas sales of $307.9 million and gas services revenue of $141.3 million. Net income reached $118.1 million, or $0.40 per diluted share, versus a net loss in Q3 2024.
Production was 111.8 Bcf of natural gas, with an average realized price of $2.75 per Mcf. The company recorded a $142.8 million gain from derivative financial instruments in the quarter. Operating income was $50.2 million. For the first nine months, operating cash flow was $675.4 million against cash capital expenditures of $978.4 million.
Comstock divested East Texas and North Louisiana properties for $15.2 million, recognizing a $2.5 million loss. Subsequent to quarter-end, it agreed to sell additional East Texas assets for $430 million in cash, expecting a pre-tax gain between $290 million and $310 million. Liquidity at quarter-end was $939.2 million, including $920 million of undrawn credit and $19.2 million in cash; long-term debt totaled $3.13 billion.
Comstock Resources (CRK) swung back to profitability in Q2-25, reporting net income attributable to the Company of $124.8 million ($0.44 diluted EPS) versus a $126.3 million loss in Q2-24. Revenue doubled to $470.3 million, driven by an 83% jump in realized natural-gas pricing to $3.02/Mcf, which offset a 14% YoY volume decline (112.2 Bcf).
Derivative mark-to-market gains of $235.8 million were the main profit catalyst; cash-settlement impact was modest at $4.3 million. Operating cash flow rose 105% to $522.3 million for 1H-25, covering 82% of the $639.3 million cash capex spend (19 wells drilled, 24 completed). Liquidity remains solid at $1.05 billion (cash $25.9 million + $1.02 billion revolver availability); debt totals $3.02 billion, 80% fixed-rate senior notes.
Key cost metrics improved: gathering/transport fell 15% and LOE held flat per Mcfe ($0.28). DD&A dropped 18% YoY on lower output and higher reserve base. Nevertheless, YTD net income is only $15.3 million due to a Q1 loss, and leverage is elevated (net debt/annualized EBITDA ~3.0x).
- Q2 operating margin rebounded to 19% from -37% a year ago.
- Borrowing base reaffirmed at $2.0 billion; leverage covenant steps down to 3.5× in Q3-25.
- 2025 remaining capex guide: $550-650 million.
Investment view: Results show strong torque to gas prices but highlight volume declines and heavy spending. Debt load and price exposure remain the primary risk factors.