Filing Flows › Comstock Resources (CRK) › Q1 2025
Comstock Resources (CRK) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 1, 2025
Comstock Resources (CRK) reported revenue of $513M for the first quarter 2025 (Q1 2025), +53% from a year earlier and +40% from the quarter before. Operating margin was 24.6%, net loss $115M (22.5% of revenue).
Comstock Resources, Q1 2025: revenue $513M (+53% year over year), operating margin 24.6%, net loss $115M, operating cash flow $175M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $513M | +40% | +53% |
| Operating profit | $126M | — | — |
| Net earnings | −$115M | — | — |
| Operating cash flow | $175M | -35% | +2% |
What changed
Revenue was $512.9M in Q1 2025, up 53% year over year and up 40% from the previous quarter. Natural Gas and Oil Sales was the largest line at 81% of revenue. Natural Gas and Oil Sales added $125.0M year over year (up 43%), 71% of the total change. Oil and Condensate declined 20%.
Operating profit was $126.2M, a 24.6% margin (up 28.4 points year over year). Total costs grew 11% against revenue growth of 53%. The fastest-growing cost line was General & admin (+21%). The quarter ended with a net loss of $115.4M, wider than the previous quarter's $55.3M loss. Net interest and other expense of $384.8M was the main reason.
Operating cash flow was $174.7M (up 2% year over year). Non-cash charges added back $167.9M of depreciation and amortization and $4.4M of share-based compensation. Working capital and other items added $117.8M. Capital expenditures of $298.0M exceeded it, leaving free cash flow of −$123.2M.
Questions
What was Comstock Resources' revenue in the first quarter 2025?
Comstock Resources (CRK) reported revenue of $513M for the first quarter 2025 (Q1 2025), +53% from a year earlier and +40% from the quarter before.
Was Comstock Resources profitable in the first quarter 2025?
Operating profit was $126M (24.6% of revenue) and net loss $115M.
Source: Comstock Resources 10-Q on SEC EDGAR.