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CNX Resources (CNX) to Report Q3 Earnings: What's in Store?

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CNX Resources Corporation (CNX - Free Report) is scheduled to release third-quarter 2021 earnings on Oct 28, before the market opens. This exploration and production company delivered an average earnings surprise of 29.3% in the last four reported quarters.

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

Factors to Consider

CNX Resources’ earnings in the third quarter are likely to have benefited from lower shares outstanding, as the company has been opportunistically repurchasing shares from the open market. It 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 third quarter.

It utilized free cash flow to lower the outstanding debt level by more than $89 million in the second quarter, which in turn is likely to have lowered capital servicing cost and aided margins in the third quarter. Stable production volumes from high-quality assets are expected to have boosted the company’s third-quarter performance.

Expectations

The Zacks Consensus Estimate for the September quarter earnings per share stands at 32 cents, suggesting a 700% rise from the year-ago reported figure.

What Our Quantitative Model Predicts

Our proven model predicts 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. That is 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 +2.50%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

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

Other Stocks to Consider

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

Continental Resources, Inc. (CLR - Free Report) is slated to release third-quarter results on Nov 1. It has an Earnings ESP of +2.55% and sports a Zacks Rank of 1.

APA Corporation (APA - Free Report) is slated to release third-quarter results on Nov 3. It has an Earnings ESP of +3.77% and sports a Zacks Rank of 1.

EOG Resources Inc. (EOG - Free Report) is slated to release third-quarter results on Nov 5. It has an Earnings ESP of +2.11% and currently has a Zacks Rank of 2.