FRISCO, Texas (AP) — FRISCO, Texas (AP) — Comstock Resources Inc. (CRK) on Tuesday reported first-quarter profit of $107.5 million.
On a per-share basis, the Frisco, Texas-based company said it had profit of 38 cents. Earnings, adjusted for non-recurring gains, came to 15 cents per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share.
The oil and gas company posted revenue of $587.4 million in the period, which topped Street forecasts. Three analysts surveyed by Zacks expected $505.2 million.
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