CNX Resources Corporation. (CNX) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the sy ...

PITTSBURGH, Dec. 5, 2024 /PRNewswire/ -- CNX Resources Corporation (NYSE: CNX) ("CNX" or "the company") announced today it has entered into a definitive agreement to acquire the natural gas upstream and associated midstream business of Apex Energy II, LLC ("Apex"), a portfolio company of funds managed by Carnelian Energy Capital Management, L.P. ("Carnelian"), in the Appalachian Basin for total cash consideration of approximately $505 million, subject to certain adjustments including an effective date of Oc ...

CNX Resources Corporation (CNX) reported third-quarter 2024 operating earnings of 41 cents per share, which beat the Zacks Consensus Estimate of 32 cents by 28.1%. The bottom line also increased 17.1% from 35 cents in the year-ago quarter. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar. Revenues The company reported revenues of $354 million, which missed the Zacks Consensus Estimate of $398 million by 11.1%. The top line also decreased 0.8% from the prior-year quarter's $357 millio ...

Financial Data and Key Metrics Changes - The company will provide detailed production volumes and associated capital expenditures for 2025 in the next quarter, indicating flexibility in production profiles based on gas pricing [5][6] - Efficiency metrics remain similar or improved, with adjustments based on gas prices [7] Business Line Data and Key Metrics Changes - The company has deferred 11 DUCs earlier in the year, maintaining flexibility in production targets [5] - The AutoSep project is still in development, with potential for third-party work, but focus remains on expanding the fleet [10] Market Data and Key Metrics Changes - The company has removed five turn-in lines from the 2024 schedule, which are expected to shift into early 2025 rather than indicating reduced activity [16][17] - The company is optimistic about the deep Utica play, noting no near-term constraints on ramping up production if gas prices improve [23] Company Strategy and Development Direction - The company is exploring multiple pathways for regulatory clarity regarding tax credits under 45Q and 45V, which could enhance opportunities in Coal Mine Methane capture [12][18] - The capital allocation process remains flexible, considering M&A opportunities but no specific plans have been disclosed [29] Management's Comments on Operating Environment and Future Outlook - Management expressed uncertainty regarding the impact of regulatory changes on Coal Mine Methane operations until final guidance is available [20][21] - The company is pleased with cost improvements in drilling, achieving a 23% reduction in drilling time and a 31% decrease in overall costs compared to 2023 [24][26] Other Important Information - The company is targeting a drilling cost of approximately $1,800 per foot after 2024, reflecting significant cost reductions [31] - The company is positioned to grow its Coal Mine Methane portfolio, contingent on regulatory incentives [32] Q&A Session Summary Question: Clarification on 2025 capital disclosure - Management indicated that the capital expenditure guidance for 2025 will be provided next quarter, with flexibility based on gas pricing [5] Question: Efficiency and production targets - Efficiency remains similar or improved, with production targets dependent on gas prices [7] Question: New technology and regulatory clarity - Management stated that the opportunity set for Coal Mine Methane capture is uncertain until regulatory guidance is finalized [12][18] Question: Buyback and dividend considerations - Management emphasized a long-term attractive opportunity for the company, but short-term allocation decisions remain flexible [14] Question: Guidance on turn-in lines and drilling activity - The removal of turn-in lines is more about timing rather than reduced activity, with no changes to previously indicated drilling plans [16][17] Question: Cost and performance in the deep Utica play - Management reported significant cost improvements and noted that the deep Utica play is competitive with other plays [24][26] Question: M&A opportunities and new technology alignment - Management acknowledged ongoing discussions about M&A but did not provide specific opportunities at this time [29]

Q3 2024 Update October 24, 2024 Q3 2024 Highlights "The company had another quarter of consistent operational execution resulting in the 19th consecutive quarter of free cash flow generation," commented Nick Deiuliis, president and CEO. "Utilizing this free cash flow, we continued to repurchase shares, and cumulatively, since the inception of the buyback program in 2020, we have retired approximately 36% of our outstanding shares. We believe that our discretionary share repurchase program provides an opport ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________________ FORM 10-Q __________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-14901 ______________ ...

CNX Resources Corporation. (CNX) came out with quarterly earnings of $0.41 per share, beating the Zacks Consensus Estimate of $0.32 per share. This compares to earnings of $0.35 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 28.13%. A quarter ago, it was expected that this company would post earnings of $0.27 per share when it actually produced earnings of $0.36, delivering a surprise of 33.33%.Over the last four quarters, th ...

TABLE OF CONTENTS: Page: Production Volumes and Activity Summary........................................................................................................................ 2 Hedge Volumes and Pricing…........................................................................................................................................... 3 Gas Hedging Gain/Loss Projections and Actuals.............................................................................................................. 4 ...

PITTSBURGH, Oct. 24, 2024 /PRNewswire/ -- CNX Resources Corporation (NYSE: CNX) ("CNX" or "the company") today released financial and operational results for the third quarter 2024 by posting those results on its website as detailed below.The company's third quarter prepared remarks can be accessed by clicking here.Third quarter earnings results and supplemental information regarding quarterly E&P data such as production volumes and hedging information, financial statements, and non-GAAP reconciliations can ...

CNX Resources Corporation (CNX) is scheduled to release third-quarter 2024 results on Oct. 24, before market open. The company delivered an earnings surprise of 33.3% in the last reported quarter.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.Key Factors That May Impact CNX's Q3 ResultsThe company’s free cash flow generation and utilization of the same are likely to have continued to reduce ...