Comstock Resources reports Q2 earnings July 29 after the close. The July 30 call will show how the $600M Pinnacle sale reshaped the balance sheet and what it means for the rig count.
Alpha Score of 23 reflects poor overall profile with poor momentum, poor value, moderate quality. Based on 3 of 4 signals – score is capped at 90 until remaining data ingests.
Comstock Resources will release second-quarter earnings after the market closes on July 29. The company will host a conference call the next morning at 10 a.m. Central Time.
The report comes three months after Comstock posted a first-quarter loss and burned through $42 million in free cash flow. That Q1 cash burn raised questions about capital stability, especially with natural gas prices hovering near $2.50 per million BTU. The company ended March with $1.2 billion in long-term debt and 1.6 billion cubic feet equivalent of daily production.
Since then, Comstock sold its stake in Pinnacle Gas Services for $600 million. The deal ended the Quantum overhang and gave the balance sheet a cushion. The cash from that sale should appear in the second-quarter numbers. Analysts will want to see whether Comstock used it to pay down debt or fund drilling.
Haynesville producers have struggled with weak gas prices for two years. Comstock's breakeven is around $2.75 per Mcf. The current strip barely covers operating costs. The company hedged roughly 60% of its 2026 production at $3.20, which provides some floor. Unhedged volumes remain exposed.
On the call, the key questions are likely to be about production growth, debt reduction, and any plans to slow the rig count. Comstock ran five rigs at the end of Q1. A drop in that number would signal management sees a longer period of low prices. Holding steady would indicate a bet on a recovery.
Comstock's stock page shows an Alpha Score of Unscored, reflecting the uncertainty around the natural gas cycle. The company has no coverage from the major sell-side firms, which limits the catalyst flow from analyst upgrades.
The July 30 call will be webcast, with a replay available for twelve months. Registration is required for the dial-in.
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