CONSOL Energy Inc. (CEIX - Free Report) delivered fourth-quarter 2018 adjusted earnings of $1.41 per share, which beat the Zacks Consensus Estimate of 76 cents by 85.5%. Moreover, the bottom line increased year over year by 33%.
Revenues
CONSOL Energy’s generated revenues worth $382 million, which beat the Zacks Consensus Estimate of $352 million by 8.5%. Top line also improved 8.5% year over year.
Operational Highlights
Average revenues per ton sold in the quarter were $49.81, up 7.4% from the year-ago quarter’s figure of $46.36. The year-over-year improvement can be attributed to stronger pricing on export sales and domestic netback contracts.
Average cash cost of coal sales per ton in the reported quarter was $30.54, higher than the year-ago quarter’s figure of $27.30. The increase was caused by surge in subsidence expense and higher mine maintenance spending in the quarter under review.
Total cost of coal sold was $335.9 million, up 7.5% from $312.5 million in the prior-year quarter.
Interest expenses were $20.4 million, up 42.6% from $14.3 million in the year-ago quarter.
Financial Update
As of Dec 31, 2018, CONSOL Energy had cash of $235.7 million, up from $154 million as of Dec 31, 2017.
Total long-term debt as of Dec 31, 2018 was $734.2 million, lower than $865.3 million as of Dec 31, 2017.
Cash from operating activities in 2018 was $413.5 million, up from $248.1 million in 2017.
Capital expenditure in 2018 was $145.7 million, higher than $81.4 million in 2017.
Guidance
CONSOL Energy expects coal sales volume (100% PAMC) for 2019 in the range of 26.8-27.8 million tons. Also, average revenue per ton sold is expected in the band of $47.70-$49.70.
Adjusted EBITDA is estimated within $380-$440 million. Capital expenditures are anticipated to within $135-$155 million.
Zacks Rank
CONSOL Energy currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Coal Releases
Alliance Resource Partners, L.P. (ARLP - Free Report) delivered fourth-quarter 2018 operating earnings of 69 cents per unit, missing the Zacks Consensus Estimate of 74 cents by 6.8%.
Peabody Energy Corporation (BTU - Free Report) posted fourth-quarter 2018 operating earnings of 88 cents per share, beating the Zacks Consensus Estimate of 68 cents by 29.41%.
CONSOL Coal Resources LP posted fourth-quarter 2018 operating earnings of 59 cents per unit, beating the Zacks Consensus Estimate of 49 cents by 22.92%.
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CONSOL Energy Inc. (CEIX - Free Report) delivered fourth-quarter 2018 adjusted earnings of $1.41 per share, which beat the Zacks Consensus Estimate of 76 cents by 85.5%. Moreover, the bottom line increased year over year by 33%.
Revenues
CONSOL Energy’s generated revenues worth $382 million, which beat the Zacks Consensus Estimate of $352 million by 8.5%. Top line also improved 8.5% year over year.
Operational Highlights
Average revenues per ton sold in the quarter were $49.81, up 7.4% from the year-ago quarter’s figure of $46.36. The year-over-year improvement can be attributed to stronger pricing on export sales and domestic netback contracts.
Average cash cost of coal sales per ton in the reported quarter was $30.54, higher than the year-ago quarter’s figure of $27.30. The increase was caused by surge in subsidence expense and higher mine maintenance spending in the quarter under review.
Total cost of coal sold was $335.9 million, up 7.5% from $312.5 million in the prior-year quarter.
Interest expenses were $20.4 million, up 42.6% from $14.3 million in the year-ago quarter.
Financial Update
As of Dec 31, 2018, CONSOL Energy had cash of $235.7 million, up from $154 million as of Dec 31, 2017.
Total long-term debt as of Dec 31, 2018 was $734.2 million, lower than $865.3 million as of Dec 31, 2017.
Cash from operating activities in 2018 was $413.5 million, up from $248.1 million in 2017.
Capital expenditure in 2018 was $145.7 million, higher than $81.4 million in 2017.
Guidance
CONSOL Energy expects coal sales volume (100% PAMC) for 2019 in the range of 26.8-27.8 million tons. Also, average revenue per ton sold is expected in the band of $47.70-$49.70.
Adjusted EBITDA is estimated within $380-$440 million. Capital expenditures are anticipated to within $135-$155 million.
Zacks Rank
CONSOL Energy currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Coal Releases
Alliance Resource Partners, L.P. (ARLP - Free Report) delivered fourth-quarter 2018 operating earnings of 69 cents per unit, missing the Zacks Consensus Estimate of 74 cents by 6.8%.
Peabody Energy Corporation (BTU - Free Report) posted fourth-quarter 2018 operating earnings of 88 cents per share, beating the Zacks Consensus Estimate of 68 cents by 29.41%.
CONSOL Coal Resources LP posted fourth-quarter 2018 operating earnings of 59 cents per unit, beating the Zacks Consensus Estimate of 49 cents by 22.92%.
Is Your Investment Advisor Fumbling Your Financial Future?
See how you can more effectively safeguard your retirement with a new Special Report, “4 Warning Signs Your Investment Advisor Might Be Sabotaging Your Financial Future.”
Click to get it free >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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