Back to top

Image: Bigstock

What's in the Offing for CNX Resources' (CNX) Q1 Earnings ?

Read MoreHide Full Article

CNX Resources Corporation (CNX - Free Report) is scheduled to release first-quarter 2021 earnings on Apr 29, before the market opens. This exploration and production company delivered an earnings surprise of 16.7% in the last reported quarter.

Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.

Factors to Consider

CNX Resources’ earnings in the first quarter are likely to have benefited from lower shares outstanding. The company has been managing costs in an efficient manner, and the same is expected to have lowered operating expenses as well as boosted margins in the first quarter.

It also utilized free cash flow to lower the outstanding debt level, which is likely to have lowered capital servicing cost and aided margins.

Expectations

The Zacks Consensus Estimate for the March quarter earnings per share stands at 28 cents, suggesting a 47.4% rise from the year-ago reported figure.

What Our Quantitative Model Predicts

Our proven model does not conclusively predict an earnings beat for CNX Resources this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here as you will see below.

CNX Resources Corporation. Price and EPS Surprise

CNX Resources Corporation. Price and EPS Surprise

CNX Resources Corporation. price-eps-surprise | CNX Resources Corporation. Quote

Earnings ESP: It has an Earnings ESP of -2.10%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: CNX Resources carries a Zacks Rank #3, currently. You can see the complete list of today’s Zacks #1 Rank stocks here.

Stocks to Consider

Investors can consider the following players from the same industry that have the right combination of elements to beat on earnings in the to-be-reported quarter.

Antero Resources Corporation (AR - Free Report) is slated to release first-quarter results on Apr 28. It has an Earnings ESP of +33.81% and a Zacks Rank of 2, at present.

EOG Resources Inc. (EOG - Free Report) is slated to release first-quarter results on May 6. It has an Earnings ESP of +2.04% and sports a Zacks Rank #1.

Matador Resources Company (MTDR - Free Report) is slated to release first-quarter results on Apr 28. It has an Earnings ESP of +7.14% and sports a Zacks Rank #1.

Zacks' Top Picks to Cash in on Artificial Intelligence

In 2021, this world-changing technology is projected to generate $327.5 billion in revenue. Now Shark Tank star and billionaire investor Mark Cuban says AI will create "the world's first trillionaires." Zacks' urgent special report reveals 3 AI picks investors need to know about today.

See 3 Artificial Intelligence Stocks With Extreme Upside Potential>>

Published in