Comstock Resources (CRK) FY2023 results: revenue $1.6 billion, down 56.9% on the year
Comstock Resources Inc. (CRK) reported revenue of $1.6 billion for fiscal 2023, the year ended 31 December 2023, down 56.9% on the year before. Net income was $211 million, down 81.2%, and diluted earnings per share $0.76. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2024.
Revenue
$1.6 billion
-56.9% on the year
FY2014FY2023
Operating margin
14.5%
62.9% a year earlier
FY2014FY2023
Net income
$211 million
-81.2% on the year
FY2014FY2023
Diluted EPS
$0.76
-81.5% on the year
FY2014FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
1,017
1,698
861
-40.1%
Capital expenditure
1,425
1,068
691
+33.5%
Free cash flow
-408
631
170
Free cash flow margin
-26.1%
17.4%
9.2%
Cash from investing
-1,418
-1,098
-553
Cash from financing
363
-577
-308
Depreciation and amortisation
608
489
469
+24.2%
Share-based compensation
9.9
6.6
6.8
+49.3%
Dividends paid
139
34.7
0.0
+300.7%
Dividend per share
$0.50
$0.12
$0.00
+300.0%
Diluted shares, weighted
277m
277m
232m
-0.2%
Shares outstanding at period end
278m
278m
233m
+0.3%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
2,358
2,278
1,013
+3.5%
Non-controlling interest
24.8
0.0
n/a
Redeemable equity
n/a
n/a
175
Debt
2,640
2,153
2,615
+22.7%
Operating lease liabilities
47.7
52.4
4.1
-8.9%
Other liabilities
1,182
1,211
861
-2.4%
Total liabilities and equity
6,254
5,694
4,668
+9.8%
Fixed assets
5,385
4,623
4,007
+16.5%
Goodwill
336
336
336
0.0%
Cash and equivalents
16.7
54.7
30.7
-69.5%
Receivables
167
415
217
-59.9%
Other assets
350
266
77.4
+31.5%
Total assets
6,254
5,694
4,668
+9.8%
10-K for the year ended 31 December 2023, filed 16 February 2024: the filing.