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CONSOL (CNX) Lags Q3 Earnings Estimates, Revenues Beat

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Canonsburg, PA based CONSOL Energy Inc., (CNX - Free Report) is a multi-fuel energy producer and an energy services provider, primarily catering to the U.S. power producers. The company principally operates two business lines: Coal and Natural Gas.

CONSOL Energy’s increasing focus on natural gas, along with its remaining coal operation, will help it to survive difficult industry fundamentals even when some of its coal-focused peers are going bankrupt. CONSOL is also assiduously lowering its costs and expects more cost saves in the future

CONSOL Energy formed a coal MLP, CNX Coal Resources (CNXC - Free Report) to concentrate more on E&P activities. CONSOL Energy’s focus on expanding its natural gas operations is yielding positive results.

CONSOL Energy has filed Form 10 with the U.S. Securities and Exchange Commission (SEC) to separate its Coal Mining and Exploration & Production (E&P) Division into two distinct publicly-traded companies. The company has been working hard to finanlize the process of separation.

Estimate Trend & Surprise History

Investors should note that the third quarter Zacks Consensus Estimate is pegged at 2 cents per share.

Coming to the earnings surprise, CONSOL Energy has surpassed the Zacks Consensus Estimate in three out of the last four quarters, resulting in a positive average surprise of 47.05%.

CONSOL Energy Inc. Price and EPS Surprise
 

CONSOL Energy Inc. Price and EPS Surprise | CONSOL Energy Inc. Quote

Zacks Rank: Currently, CONSOL Energy has a Zacks Rank#3 (Hold) but that could change following its third quarter 2017 earnings report which has just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

We have highlighted some of the key details from the just-released announcement below:

Earnings: The company reported a loss of 15 cents per share in third quarter compared with the Zacks Consensus Estimate of earnings of 2 cents.
 
Revenue: CONSOL’s total revenues of $671.3 million in third quarter were higher than the Zacks Consensus Estimate of $609 million by 10.2%.

Check back later for our full write up on this CNX earnings report later!

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