Filing Flows › Energy › Comstock Resources (CRK)
Comstock Resources (CRK) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Comstock Resources (CRK) Q3 2026 earnings results →
Q3 2026 Revenue down 14% year over year to $384M · 6¢ of every $1 of revenue kept as net profit · operating margin 6.0%
Comstock Resources made $384M in Q3 2026 (-14% Y/Y): Natural Gas and Oil Sales $320M, Gas Services $64.5M. Operating margin 6.0%, net earnings $22.3M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $384.4M in Q3 2026, down 14% year over year and up 9% from the previous quarter. Natural Gas and Oil Sales was the largest line at 83% of revenue. Gas Services lost $76.8M year over year (down 54%), 122% of the total change.
Operating profit was $22.9M, a 6.0% margin (down 5.3 points year over year). Total costs fell 9% while revenue fell 14%. The fastest-growing cost line was General & admin (+40%). Net earnings were $22.3M, down 80% year over year. The effective tax rate was 35.5%. Non-operating items added $16.4M, 42% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $180.2M (up 18% year over year), 710% of net income including minority interests. Non-cash charges added back $185.7M of depreciation and amortization and $7.5M of share-based compensation. Working capital and other items used $38.3M. Capital expenditures of $452.2M exceeded it, leaving free cash flow of −$272.0M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $384M | -14% | 6.0% | $22.3M | $180M |
| Q2 2026 | 10-Q | Jul 30, 2026 | $353M | -25% | 6.4% | $8.8M | $170M |
| Q1 2026 | 10-Q | May 6, 2026 | $587M | +14% | 29.8% | $107M | $272M |
| Q4 2025 | 10-K | Feb 19, 2026 | $787M | +114% | 48.3% | $281M | $224M |
| Q3 2025 | 10-Q | Nov 4, 2025 | $450M | +48% | 11.2% | $111M | $153M |
| Q2 2025 | 10-Q | Jul 31, 2025 | $470M | +90% | 19.0% | $125M | $348M |
| Q1 2025 | 10-Q | May 1, 2025 | $513M | +53% | 24.6% | −$115M | $175M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
Sells to
- VG — 18% of its revenue · Stated in 10-K (sentence) · source
- SHEL — 11% of its revenue · Stated in 10-K (sentence) · source
About Comstock Resources
We are a leading independent natural gas producer operating primarily in the Haynesville shale, a premier natural gas basin located in North Louisiana and East Texas with superior economics given its geographical proximity to the Gulf Coast natural gas markets. As of December 31, 2025, substantially all of our proved natural gas and oil reserves were in the Haynesville and Bossier shale plays. We are focused on creating value through the development of our substantial inventory of highly economic drilling opportunities in the Haynesville and Bossier shales and through our exploration activities in our Western Haynesville play. Our common stock is listed and traded on the New York Stock Exchange and New York Stock Exchange Texas under the symbol "CRK".
In its own words, from its 10-K, filed Feb 19, 2026.
Comstock Resources against its Crude Petroleum & Natural Gas peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -14% against the peers' median +46%. Operating margin: 6.0% against the peers' median 19.5%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| CRK Comstock Resources | Q3 2026 | $384M | -14% | 6.0% |
| EOG EOG Resources | Q3 2026 | $8.5B | +46% | 41.9% |
| OXY Occidental Petroleum | Q2 2026 | $8.1B | +53% | 48.5% |
| DVN Devon Energy | Q3 2026 | $6.9B | +58% | 18.3% |
| FANG Diamondback Energy | Q3 2026 | $5.4B | +38% | 46.0% |
| EXE Expand Energy | Q3 2026 | $3.3B | +11% | 19.5% |
| PARR PAR Pacific Holdings | Q3 2026 | $3.1B | +52% | 15.5% |
| OVV Ovintiv | Q3 2026 | $2.6B | +26% | 33.7% |
| SM SM Energy | Q3 2026 | $2.2B | +167% | 10.9% |
Source: Comstock Resources 10-Q on SEC EDGAR · CIK 23194 · Crude Petroleum & Natural Gas
Guidance and outlook
13F: who owns CRK and who is buying
More on CRK
- How Comstock Resources makes money: revenue by segment
- Comstock Resources next earnings date and what analysts expect
- Comstock Resources stock forecast, price target and fair value
- Who owns Comstock Resources stock: holders, funds and Congress trades
- Comstock Resources guidance and outlook
- Is Comstock Resources a takeover target? LBO and rumors
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results