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CNX Resources (CNX) to Report Q4 Earnings: What to Expect

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CNX Resources Corporation (CNX - Free Report) is scheduled to release fourth-quarter 2021 earnings on Jan 27, before the market opens. This exploration and production company delivered an average earnings surprise of 35.4% 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 fourth quarter are likely to have benefited from lower shares outstanding, as the company has been opportunistically repurchasing shares from the open market.

CNX Resources utilized free cash flow to lower the outstanding debt level by more than $187 million in the first nine months of 2021, which in turn is likely to have lowered capital servicing costs and aided margins in the fourth quarter. Stable production volumes from high-quality assets are expected to have boosted CNX’s fourth-quarter performance.

Expectations

The Zacks Consensus Estimate for the December quarter earnings per share stands at 54 cents, suggesting a 157.1% rise from the year-ago reported figure.

What Our Quantitative Model Predicts

Our proven model predicts 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 chances of an earnings beat, which is the case 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: CNX Resources has an Earnings ESP of +2.33%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: CNX Resources currently has a Zacks Rank #3. 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 this reporting cycle.

Murphy Oil Corporation (MUR - Free Report) is slated to release fourth-quarter results on Jan 27. MUR has an Earnings ESP of +4.11% and a Zacks Rank #3 at present.

Murphy Oil delivered an average surprise of 83.6% in the last four reported quarters. The Zacks Consensus Estimate for 2022 earnings of Murphy Oil has moved up 9.2% in the past 90 days.

Chevron Corporation (CVX - Free Report) is slated to release fourth-quarter results on Jan 28. CVX has an Earnings ESP of +2.53% and a Zacks Rank #3, at present.

The long-term (three-five years) earnings growth of Chevron is currently pegged at 4.5%. The Zacks Consensus Estimate for 2022 earnings of Chevron has moved up 13.6% in the past 90 days

Viper Energy Partner LP (VNOM - Free Report) is scheduled to release fourth-quarter 2021 numbers on Feb 22. VNOM has an Earnings ESP of +12.82% and is currently a #3 Ranked stock.

Viper Energy delivered an average surprise of 103.1% in the last four quarters. The Zacks Consensus Estimate for 2022 earnings of Viper Energy Partner implies year-over-year growth of 42.8%.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.