The company has reduced its adjusted net debt by $267 million since third-quarter 2020. Devon Energy (DVN) is scheduled to report second-quarter results on Aug 6, after market close. The Zacks Consensus Estimate for earnings is pegged at $1.28 per share. CNX Resources Corporation (CNX) reported second-quarter 2024 operating earnings of 36 cents per share, which beat the Zacks Consensus Estimate of 27 cents by 33.3%. The bottom line also increased 24.1% from 29 cents in the year-ago quarter. The company cont ...

During the six months ended June 30, 2024, CNX completed a private offering of $400,000 aggregate principal amount of 7.25% CNX Senior Notes due March 2032 (the "CNX Senior Notes due March 2032") less an unamortized discount of $5,000. The CNX Senior Notes due March 2032, along with the related guarantees, were issued pursuant to an indenture dated February 23, 2024 and accrue interest from February 23, 2024 at a rate of 7.25% per year. Interest is payable semi-annually in arrears on March 1 and September 1 ...

Over the last four quarters, the company has surpassed consensus EPS estimates four times. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. While CNX Resources has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? Ahead of this earnings release, the estimate revisions trend for CNX Resources: m ...

2Q 2024 Earnings Results & Supplemental Information of CNX Resources | TABLE OF CONTENTS: Page: | | | --- | --- | | Production Volumes and Activity Summary | 2 | | Hedge Volumes and Pricing… | 3 | | Gas Hedging Gain/Loss Projections and Actuals | 4 | | Consolidated Statements of Income | 5 | | Consolidated Balance Sheets | 6 | | Consolidated Statements of Cash Flows… | 7 | | Market Mix and Natural Gas Price Reconciliation… | 8 | | Price and Cost Data (Per Mcfe) | 9 | | Guidance… | 10 | | Definitions | 11 | ...

CNX Resources Corporation (CNX) is scheduled to release second-quarter 2024 results on Jul 25, before market open. The company delivered an earnings surprise of 25% in the last reported quarter. Factors to Note The systematic buybacks during the quarter are expected to have boosted earnings per share. Ongoing debt reduction is likely to have resulted in decreased interest expenses. Q2 Expectations The consensus mark for total production volumes is pegged at 135.4 billion cubic feet equivalent, up 0.9% year ...

The earnings report, which is expected to be released on July 25, 2024, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower. This company is expected to post quarterly earnings of $0.27 per share in its upcoming report, which represents a year-over-year change of -6.9%. Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts. The ...

2023 Report Details Progress Towards Unique Appalachia First Sustainability Goals Generating Long-term Value for Shareholders, Employees, and Appalachian Region PITTSBURGH, June 5, 2024 /PRNewswire/ -- Today, CNX Resources Corp. (NYSE: CNX) published its thirteenth annual Corporate Sustainability Report, Radical Transparency, highlighting how the Company's distinct corporate strategy and investment approach continues to deliver material results for all stakeholder groups across the Appalachian region and be ...

Proposed facility will help catalyze hydrogen and sustainable aviation fuel industries at scale, propel the aviation sector's decarbonization goals, lower transportation costs, and create supply chain efficiencies PITTSBURGH, May 15, 2024 /PRNewswire/ -- To accelerate regional and national hydrogen and sustainable aviation fuel (SAF) development, KeyState Energy (KeyState), CNX Resources Corp. (NYSE: CNX), and Pittsburgh International Airport (PIT) today announced a collaboration to bring yet another transf ...

Financial Data and Key Metrics Changes - The company maintained its free cash flow guidance for 2024 at $75 million from the New Tech business group, indicating stable expectations for cash generation [10] - The company executed aggressive share buybacks in the first quarter, purchasing approximately $50 million worth of shares, which is part of a projected $300 million buyback program for the year [12][13] Business Line Data and Key Metrics Changes - The New Tech business group is expected to start generating cash flow towards the end of 2024, with a more significant impact anticipated in 2025 and 2026 [10] - The company is focusing on two new ventures in the New Tech segment: one in oilfield services (OFS) and another in alternative fuels, which are expected to contribute to future cash flow [7][10] Market Data and Key Metrics Changes - The company is exploring opportunities in various markets, including ground transportation, sustainable aviation fuel, and onshoring manufacturing, which are all expected to generate free cash flow [37][38] - The company sees a growing demand for energy, particularly in advanced economies and developing regions, which aligns with its strategic focus on natural gas and alternative energy solutions [25][33] Company Strategy and Development Direction - The company is committed to its "Appalachia First" vision, which emphasizes responsible natural gas production and local utilization through technologies like CNG and LNG [33] - The strategy includes vertical expansion into market opportunities for natural gas and electricity generation, aiming to reduce emissions and costs while enhancing GDP and job creation [34][36] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the potential of new technologies to meet the growing energy demand while addressing environmental concerns [25][36] - The company is closely monitoring market conditions and pricing to inform its operational decisions and future planning, particularly for 2025 [51][52] Other Important Information - The company has partnered with Deep Well Services and NuBlu Energy to bring its new technologies to market, leveraging their expertise in the oilfield service and energy sectors [22][29] - The capital needs for the new technologies are expected to be low, with no incremental capital planned for 2024 [40] Q&A Session Summary Question: Potential cash flow generation from new ventures - Management indicated that the New Tech business group is expected to generate $75 million in free cash flow for 2024, with more significant contributions anticipated in 2025 and 2026 [10] Question: Allocation of free cash flow between buybacks and debt reduction - The CFO noted that the company remains flexible in its approach to buybacks and debt reduction, with a focus on maintaining flat to declining debt levels [12][13] Question: Details on new technologies and their market mechanisms - Management elaborated on proprietary technologies that combine various functions in conventional flowback processes, resulting in reduced costs and environmental impact [18][20] Question: Activity curtailments and production decisions - Management confirmed that the decision to hold 11 wells was based on operational considerations and free cash flow optimization [44] Question: Preliminary outlook for 2025 and pricing triggers - The company plans to maintain a $500 million run rate for 2025, with adjustments based on market pricing and conditions observed over the summer [51] Question: Changes in hedging philosophy due to debt structure - Management acknowledged a correlation between the balance sheet and hedging strategy, indicating a shift towards shorter hedging durations while maintaining flexibility [52]

▪ Free cash flow (FCF)(1) of $25 million, our 17th consecutive quarter of positive FCF generation $25MM 57% Q1 2024 Update April 25, 2024 ▪ Repurchased 2.6 million shares on the open market in Q1 at an average price of $20.13 per share for a total cost of $52 million and another 0.1 million shares from 4/1/2024- 4/11/2024 at an average price of $23.99 for a total cost of $3 million Q1 Free Cash Flow 2024E Cash Operating Margin Q1 2024 Fully Burdened Cash Costs, before DD&A 2 2 $129 $21 $121 $85 $101 $117 $1 ...