CNX Resources Q2 Earnings Beat Estimates, Revenues Increase Y/Y

Core Insights - CNX Resources Corporation (CNX) reported second-quarter 2025 operating earnings of 59 cents per share, exceeding the Zacks Consensus Estimate of 39 cents by 51.3% and increasing 63.9% from 36 cents in the same quarter last year [1][8] CNX's Revenues - The company reported revenues of $450 million, missing the Zacks Consensus Estimate of $457 million by 1.4%, but showing a 30.1% increase from $346 million in the prior-year quarter [2] Highlights of CNX's Q2 Release - The average selling price in the quarter was $2.68 per thousand cubic feet equivalent (Mcfe), up 3.9% from $2.58 a year ago - Total production cost was $1.67 per Mcfe, down 2.3% year over year - Total production volumes were 167.6 billion cubic feet equivalent (Bcfe), up 25.1% year over year - Interest expenses totaled $44 million, up 13.9% year over year [3][8] Share Repurchase and Debt Management - During the second quarter, CNX repurchased 3.7 million shares at an average price of $31.24 per share for a total cost of $114 million, representing approximately 40% of its outstanding shares over the past 19 quarters - CNX's adjusted net debt decreased by $69 million [4][8] Financial Update - As of June 30, 2025, CNX had cash and cash equivalents of $3.39 million, down from $17.2 million as of December 31, 2024 - Long-term debt increased to $2.29 billion from $1.84 billion as of December 31, 2024 - Cash from operating activities for the first six months of 2025 totaled $282.5 million compared to $191.8 million in the year-ago period, with free cash flow amounting to $188 million [5] Capital Expenditure - Capital expenditure for the first six months totaled $113.6 million, down from $151.9 million in the year-ago period [6] CNX's Guidance - CNX expects total capital expenditure for 2025 to be between $450 million and $500 million - The company anticipates 2025 production volume to be in the range of 615-620 Bcfe, an increase from the previous guidance of 605-620 Bcfe - Total free cash flow is expected to be $575 million [7][9]