FRISCO, Texas (AP) — Comstock Resources Inc. (CRK) on Tuesday reported fourth-quarter profit of $81.9 million.
On a per-share basis, the Frisco, Texas-based company said it had profit of 30 cents. Earnings, adjusted for non-recurring gains, were 14 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 9 cents per share.
The oil and gas company posted revenue of $274.8 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $267.1 million.
For the year, the company reported a loss of $52.4 million, or 39 cents per share, swinging to a loss in the period. Revenue was reported as $858.2 million.
Comstock shares have increased 29% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $5.63, a fall of roughly 4% in the last 12 months.
—————
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CRK at https://www.zacks.com/ap/CRK
