Here's What's in the Cards for Comstock in Q3 Earnings

Comstock Inc. LODE is scheduled to report third-quarter 2025 results on Oct. 30, after market close.

The Zacks Consensus Estimate for Comstock’s third-quarter total sales is pegged at $0.99 million, indicating a jump of 76.8% from the year-ago quarter. 

The consensus mark for earnings has remained in the past 60 days and currently stands at a loss of 18 cents per share. It suggests an improvement from the loss of 30 cents per share incurred in the prior-year quarter.

LODE has a trailing four-quarter negative earnings surprise of 47.94%, on average.

Factors Likely to Have Shaped Comstock’s Q3 Performance

The company operates through five segments - Fuels, Metals, Mining, Strategic Investments and Corporate. The Fuels segment focuses on the conversion of lignocellulosic biomass into biointermediates for refining into renewable fuels, while the Metals Segment represents the recycling of electrification products. The Mining segment includes gold and silver mining assets and related real estate. The Strategic Investments segment includes investments in Green Li-ion and SSOF and the Corporate Segment consists of all other assets and general corporate costs. 

It generates revenues mainly from the Metals and Mining segments. Comstock reported total revenues of $1.12 million in the first half of 2025, which were up 31% year over year. The Metals segment has been a key growth driver for revenues for Comstock in 2025, accounting for around 93% of its total revenues. 

The Metals segment operates a permitted, demonstration-scale solar panel recycling facility, which generated $0.4 million in revenues during 2024. In the first half of 2025, the segment reported revenues of $1.05 million, which marked a substantial improvement from the revenues of $0.007 million in the prior-year comparable period. This included service fees for decommissioning services, recycling and processing end-of-life solar panels, and sales of high-value recycled materials, including aluminum, copper, glass and concentrated precious metals.

Mining revenues, which are generated from leasing mineral claims and other real estate, were reported at $0.06 million in the first half of 2025, down 92% year over year. This was mainly due to the termination of the Mackay Mining Lease in the fourth quarter of 2024.

This trend is expected to reflect in LODE’s third-quarter results as well, with higher metals revenues likely to offset lower revenues in the Mining segment. 

The cost of goods is expected to have been higher in the third quarter as the commercial demonstration facility is operating at far less than full capacity. Research and development costs are likely to have increased, driven by greater investment in renewable fuel projects (mostly conducted through external laboratories), higher employee-related and consulting costs, and additional rent expenses associated with American Science and Technology Corporation.

Overall, while higher revenues from the Metals segment are likely to have boosted Comstock’s top line, these gains were offset by costs, resulting in an overall loss for the quarter.

What the Zacks Model Unveils for LODE Stock

Our proven model does not conclusively predict an earnings beat for Comstock this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here, as you will see below.

You can uncover the best stocks before they’re reported with our Earnings ESP Filter.

Earnings ESP: The Earnings ESP for Comstock Mining is 0.00%.

Zacks Rank: The company currently has a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank stocks here.

Comstock’s Price Performance

Comstock’s shares have declined 62% in the year-to-date period against the industry’s growth of 109%.

Stocks Poised to Beat Estimates

Agnico Eagle Mines Limited AEM, scheduled to release third-quarter earnings on Oct. 29, has an Earnings ESP of +11.44% and a Zacks Rank of 2. 

Agnico Eagle Mines’ earnings for the third quarter are pegged at $1.76 per share, indicating a year-over-year jump of 54.4%. Agnico Eagle Mines has a trailing four-quarter average earnings surprise of 10%. 

Pan American Silver Corp. PAAS, slated to release third-quarter 2025 earnings on Nov. 12, has an Earnings ESP of +2.21% and carries a Zacks Rank of 3 at present.  

The Zacks Consensus Estimate for Pan American Silver’s earnings for the third quarter is pegged at 51 cents per share. The estimate indicates a 59% increase from the earnings of 32 cents per share reported in the year-ago quarter. Pan American Silver has a trailing four-quarter average earnings surprise of 45.2%. 

CSW Industrials, Inc. CSW, slated to release second-quarter fiscal 2026 earnings on Oct. 30, has an Earnings ESP of +1.10% and a Zacks Rank of 3 at present. 

The consensus mark for CSW Industrials’ earnings is pegged at $2.73 per share. It indicates a year-over-year rise of 20.8%. CSW Industrials has a trailing four-quarter average earnings surprise of 5.6%.

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This article originally published on Zacks Investment Research (zacks.com).

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